The Heidelberg-based AI startup paretos, a market leader in Decision Intelligence, has successfully closed its Series A funding round, raising an additional €8.5 million. The funding is led by Acton Capital, renowned for its investments in companies such as Etsy, Cyberport, and HomeToGo. Existing investors UVC Partners and LEA Partners also participated in the round. Moreover, renowned funds and angels, including Interface Capital (led by Niklas Jansen (Blinkist) and Christian Reber (Wunderlist, Pitch)) as well as former Vodafone CEO Hannes Ametsreiter, continue to support paretos on its journey.
“While many AI technologies are still in the hype phase, paretos has impressively demonstrated that their Decision Intelligence solution creates long-term value for companies that directly reflects in business results. Especially in the current tense economic climate, this is the game-changer for real-world AI application,” said Fritz Oidtmann, Managing Partner at Acton Capital. “We look forward to accompanying the team in the next phase and jointly shaping the future of the market.”
The international market research institute Gartner has recognised paretos as one of only nine European representative Decision Intelligence providers (out of 30 worldwide). Already today, paretos’ AI-based platform supports market leaders such as HelloFresh, Otto Group, Faller Packaging, ARMEDANGELS, and EDEKA in decision-making for critical business processes.
With the fresh capital, paretos founders Thorsten Heilig and Fabian Rang plan to accelerate growth further: “Our platform typically delivers an ROI of over 100% in the first year and generates business impact worth millions. With the support of our investors, we aim to expand our technological lead,” said Thorsten Heilig, Co-Founder and CEO of paretos. “Currently, many companies in Germany and Europe are facing significant pressure. We offer them a powerful tool to address urgent challenges – from evolving customer demands to complex supply chains, and cost and efficiency pressures.”
According to the institute MarketsandMarkets, the global market for Decision Intelligence is expected to grow by 25% annually by 2030, quadrupling to €50 billion. Decision Intelligence leverages AI to support, optimise, and even automate complex data-driven decisions. The aim goes beyond merely making predictions; it focuses on generating actionable insights and concrete measures – particularly in dynamic planning and operational processes. Many experts attribute the same relevance to this technology as to Generative AI.
“With its patented and highly innovative technology, combined with a strong application focus, paretos has the best chance of taking on an international leadership role,” said Andreas Unseld, General Partner at UVC Partners. And Nils Seele, Partner at LEA Partners, added: “After conceptualizing AI, it’s now about transformation. Anyone looking for ROI in AI applications will find it at paretos.”
Read the orginal article: https://www.eu-startups.com/2024/10/german-ai-startup-paretos-raises-e8-5-million-to-grow-as-a-market-leader-in-decision-intelligence/
