Austrian Speedinvest co-leads €9.2M seed round for Berlin-based Mercanis
17 August, 2023, 15:25
German startup Mercanis has received a €9.2 million investment from institutional funds such as Signals.VC, DI Technology, and Speedinvest. The startup plans to accelerate its growth and innovation development, EU-Startups informed.
- Mercanis was founded in 2020 by Fabian Heinrich and Moritz Weiermann. The startup’s software uses large language models (LLMs) in contract analysis and autonomous sourcing. Mercanis claims that it enables customers to buy in a smart, efficient, and compliant manner. To date, the startup also covers the service delivery/implementation.
- The round was co-led by Germans Signals Venture Capital, an early stage enterprise & B2B investor, and DI Technology that invests in early growth B2B technology companies.
- Vienna-based VC firm Speedinvest is among the leading investors in this round. Recently, it led a $3 million seed round for French travel tech startup Fairlyne and a €4.1 million round for French fintech finres.
- With the fresh funding, Mercanis plans to accelerate its growth and product development. It also aims to expand go-to-market strategies and broaden the customer base.