Ulm-based ProcureTech startup Matchory announced today that it received €6 million in a Seed-extension round in order to fuel its international growth and continue development of its supplier database.
Munich-based VC firm Capmont led this round, and was joined by existing investors: Earlybird-X and angel investors from industry and procurement.
Aiko Wiegand, Co-founder and CEO of Matchory says: “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.”
Founded in 2019 by Aiko Wiegand, Martin Konradi, and Nils Liskien, Matchory aims to bring transparency to global supply chains and offers strategic procurement and automated supplier search.
Matchory has developed an AI-driven procurement platform that collects relevant supplier information along the supply chain and makes it centrally available for strategic procurement. The cloud-based software transforms the global supplier search and is already being used by companies such as DMG Mori, Tesa, Bosch and Jungheinrich.
According to Matchory, they are the first company to combine all manufacturers in one platform. With the help of specially developed AI models and web scraping processes, the data is continuously updated and enriched.
Matchory’s database currently contains over 14 million supplier profiles and covers over 98% of the relevant manufacturers in the global market.
According to Matchory, the high level of information availability and broad market overview can reduce production costs by up to 50%. In addition to cost savings, the complexity of purchasing is constantly increasing.
Recognising risks, quality standards, time-to-market, compliance with ESG guidelines, innovative capacity, and relocation all influence the selection of optimal suppliers. Matchory can help to digitise procurement processes and make them more resilient to market changes.
This is particularly relevant with regard to nearshoring and the relocation of supply chains in order to overcome geopolitical and environmental challenges.
Dr. Matthias Roth, Capmont Partner, shares: “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.”
Matchory is also a consortium partner in the Factory-X project, which aims to advance the holistic digitisation of supply chains, develop industry standards, and provide significant funding for such developments.
Read the orginal article: https://www.eu-startups.com/2025/01/procuretech-startup-matchory-announces-e6-million-financing-round/
