New OTB investment – akirolabs raises $5M in Seed Funding

Founded in 2021, Berlin-based akirolabs empowers procurement organisations to unlock 4 - 5x higher sustainable business value beyond traditional cost savings. The funding round was led by OTB Ventures, HTGF and D11Z Ventures and strengthened by angel investments from industry. The funds will be used to evolve akirolabs SaaS product and enhance its AI capabilities, as well as to further scale customer growth and business operations. 

akirolabs highlights that while digitalization in procurement was primarily focused on operational and tactical solutions for efficiency and savings, industry benchmarks indicate a much higher value potential in strategic procurement. This potential is often untapped due to capability gaps. Current macroeconomic challenges and recent black swan events have amplified and accelerated the need for more strategic procurement. To address this challenge, akirolabs offers an AI-powered strategic procurement SaaS solution, enabling its customers to unlock and achieve up to 4-5x times higher value from procurement, - beyond savings. 

About akirolabs

akirolabs develops an AI-augmented SaaS platform for collaboratIve strategic procurement. akirolabs is based upon a world-class and industry proven strategic procurement process, methodology and toolkit, embedded into an intuitive cross-functional collaboration workflow and enriched with all relevant internal and external business insights.