Archlet announced $2.8 million capital raise led by Munich-based Senovo and Berlin-based La Famiglia
Archlet, a Zurich, Switzerland-based SAAS developer for procurement people, announced the completion of a $2.8 million capital investment round.
The money was raised from investors led by Senovo and La Famiglia, both from Germany, and included contributions from angel investors Nicolaus Schefenacker, David Nothacker and Julius Köhler. Existing shareholders Wingman Ventures, Flavio Pfaffhauser, and Karin Hagen-Gierer also participated in the round.
Archlet, founded in 2019 by ETH Zürich alumni Jakob Manz, Lukas Wawrla and Tim Grunow, developed procurement technology that helps buyers and category managers to quickly enter supplier negotiations backed by relevant data.
The software aims to replace the manual, Excel-based offer analysis and guides buyers to the optimal award strategy in their sourcing events.
It also includes non-cost components such as sustainability, risk or diversity scores into the bid analysis and award decision and can be integrated into existing procurement workflows (e.g. with SAP Ariba).