Industrial companies are currently facing huge interruptions and material shortages in their supply chains. While the economy rebounding has filled the order books of most companies, production is halted due to supply chain issues causing more than € 38 billion damage in 2021.
Attempting to remove the roadblock, Munich-based software company Tacto has raised €5.3 million to transform industrial procurement. The round was led by venture capital firm Cherry Ventures with participation from UVC Partners, Visionaries Club, and angel investors, including Personio’s Hanno Renner, GetYourGuide’s Johannes Reck, Forto’s Michael Wax, and Helsing’s Torsten Reil.
The startup offers an intuitive and automated solution for procurement in medium-sized industrial enterprises. The AI-based software gives customers a transparent overview of their procurement activities, algorithmically highlights risk and savings potential, and automates transactional workflows in sourcing and supplier management.
André Petry, co-founder and managing director, Tacto said: “We are partnering with the industrial market leaders of today to build the digital leader of tomorrow. Together, we future-proof the backbone of the world economy by running industrial procurement - digitally, intelligently and sustainably.”
Christian Meermann, founding partner, Cherry Ventures said: “Tacto can become a category winning procurement suite for SMEs by helping these businesses to unlock significant savings and create resilient supply chains from day one. Its team combines a strong tech foundation with a deep understanding of the industrial world to work on fixing industrial supply chains, one of the most pressing issues of our time. With all of its hidden champions, Germany is the perfect location to build the future leader in procurement tech.”