Tacto, a Germany-based AI-based operating system for supply chains, has raised €50 million in funding.
SaaS Investors
The round was led by Sequoia Capital and Index Ventures. Existing investors Visionaries Club, Cherry Ventures, and UVC Partners also joined the financing round.
Sequoia Capital is a venture capital firm based in Menlo Park, California. Founded in 1972, the firm seeks to invest in early to growth-stage companies operating in the information technology, healthcare, manufacturing, mobile, nanotechnology, financial service, internet, energy, media, and retail sectors.
Founded in 1996, Index Ventures is a venture capital firm based in San Francisco and London. The firm seeks to invest in companies operating in artificial intelligence, machine learning, business applications, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors.
Tacto Use of Funds
The company will use the funds to accelerate product development and invest significantly in AI to help customers automate supplier and compliance workflows, optimize material costs, and reduce emissions through sustainable procurement.
About Tacto
Tacto offers an AI-based software platform that streamlines procurement workflows, ensures compliant and sustainable supply chains, and facilitates efficient material sourcing for mid-sized industrial organizations. The platform automates manual tasks, including those related to regulatory compliance with various supply chain acts. Tacto's AI can identify the cost-saving potential of procurement spend by analyzing volatile price developments in key cost drivers and comparing them to actual prices paid.
Funding Details
Company: Tacto Technology GmbH
Raised: €50.0M
Round: Unknown
Funding Month: December 2023
Lead Investors: Sequoia Capital and Index Ventures
Additional Investors: Visionaries Club, Cherry Ventures, and UVC Partners
Company Website: https://www.tacto.ai/
Software Category: Supply Chain Solutions
Source: https://tech.eu/2023/12/12/tacto-raises-eur50-million-for-ai-based-supply-chain-solutions/