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Matchory Secures €6 Million in Funding

The round was led by Munich-based VC firm Capmont, with participation from existing investors.

Ulm-based ProcureTech startup Matchory has raised €6 million in a Seed-extension funding round to drive international expansion and enhance its supplier database.

The round was led by Munich-based VC firm Capmont, with participation from existing investors Earlybird-X and industry-specific angel investors.

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.”

Aiko added that the fresh capital will help the company further develop their Software-as-a-Service (SaaS) solution by integrating additional data sources and offering exciting new features. 

Founded in 2019 by Aiko Wiegand, Martin Konradi, and Nils Liskien, Matchory focuses on bringing Transparency to global supply chains by offering strategic procurement solutions and automated supplier search capabilities.

The company has developed an AI-powered procurement platform that centralizes supplier information across the supply chain, transforming global supplier search processes. Its cloud-based software is already being utilized by major companies, including DMG Mori, Tesa, Bosch, and Jungheinrich.

Matchory claims to be the first platform to integrate all manufacturers in one place. Using proprietary AI models and web scraping technology, the platform continuously updates and enriches its database, which now features over 14 million supplier profiles and covers 98% of relevant manufacturers globally.

According to Matchory, its extensive supplier information and market insights can cut production costs by up to 50%. Along with cost savings, the platform addresses the growing complexity of procurement, factoring in risks, quality standards, time-to-market, ESG compliance, innovation potential, and supply chain relocation.

By digitizing procurement processes, Matchory aims to create more resilient supply chains, a critical factor in managing geopolitical and environmental challenges, including nearshoring and supply chain relocation.

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