Scavenger AI, a Frankfurt, Germany-based data analytics and AI startup, has secured €1.1 million in pre-seed financing.
Investors
The funding round was led by HTGF, in collaboration with Calm/Storm Ventures, Femventix, and the B4i Fund.
The High-Tech Gründerfonds (HTGF) is a public-private venture capital investment firm based in Bonn, Germany. The firm provides seed financing for innovative technologies and business models.
Scavenger AI Use of Funds
The fresh funding will be allocated towards team expansion and technological infrastructure development to meet evolving customer needs and introduce the software to the market.
About Scavenger AI
Established in 2023 by Maximilian Hahnenkamp and Felix Beissel, Scavenger AI is a company that specializes in developing three proprietary AI tools, integrated into a cohesive workflow. These tools enable companies to derive optimal decisions from their data under any circumstances. The software offered by Scavenger AI functions by cleansing the data, conducting statistical analysis based on user queries, and presenting the results in a comprehensible format. Additionally, mathematical outcomes are enriched with industry-specific data and visualized through a dashboard interface.
Funding Details
Company: Scavenger AI GmbH
Raised: €1.1M
Round: Pre-Seed Round
Funding Month: April 2024
Lead Investors: HTGF
Additional Investors: Calm/Storm Ventures, Femventix, B4i Fund.
Company Website: https://scavenger-ai.com/
Software Category: Generative AI & Data-driven Solutions
Source: https://www.eu-startups.com/2024/04/berlin-based-scavenger-ai-raises-e1-1-million-pre-seed-to-help-companies-get-better-at-data-driven-decision-making/