'ProcureTech' startup Matchory has secured €6M in a new funding round. Munich-based VC Capmont led this round, which was joined by existing investors Earlybird-X and angel investors from industry. The influx of capital will now be used to expand internationally and to further develop its matching technology.
Matchory is also a consortium partner in the Factory-X project, which aims to advance the holistic digitization of supply chains, develop industry standards, and provide significant funding for such developments. Other companies in the Factory-X project include SAP, Siemens, and approximately 50 other IT and industrial companies.
Matchory's platform collects relevant supplier information along the supply chain and makes it centrally available for strategic procurement for search with AI models and web scraping processes. Their database currently contains over 14 million supplier profiles, covering over 98 percent of the relevant manufacturers in the global market. So far, customers include DMG Mori, Tesa, Bosch and Jungheinrich.
Aiko Wiegand, Co-founder and CEO of Matchory, commented: “Transparency in the supply chain is becoming a key success factor for companies to make efficient and sustainable decisions when manufacturing products and selecting suitable suppliers. Therefore, the rapid availability of information about supply chains and individual suppliers is crucial to a company's success. The fresh capital will enable us to further develop our Software-as-a-Service (SaaS) solution, integrate additional data sources and offer exciting new features.”
Dr. Matthias Roth, Capmont Partner, added: “We are convinced that Matchory has the right solution on the market at the right time to address the key needs of global companies and ensure reliable supply chains. We are delighted to be part of this exciting development.”
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