Seed Funds for European SME Data Platform Scavenger

In Frankfurt, small business data platform provider Scavenger AI has raised EUR 2.5m in seed funding, with which to accelerate product development and expand across Europe.

Scavenger, which was founded in 2023 and is led by Felix Beissel and Maximilian Hahnenkamp (pictured left and right respectively), notes that around 70% of European SMEs 'still do not use a modern business intelligence solution'. Data is stored in different systems, including ERP, CRM and SQL databases - but accessing it requires technical know-how or time waiting for input from IT specialists.

The firm aims to change that with its conversational AI platform, and differentiates itself from 'US BI tools', having been 'designed for the 98% of SMEs in the DACH region,' and combining enterprise-level analytics with GDPR compliance. The platform pulls information including customer data, purchase histories and behavior trends into a single interface, allowing sales teams to analyze which target groups provide the greatest value for the company, and marketers to measure the effectiveness of their campaigns, among other benefits. Teams can ask questions such as 'How are our cost centers evolving?' or 'Which projects are over budget and why?', and Scavenger delivers the answer 'in seconds, transparently and understandably.'

The round was led by BMH Beteiligungs-Managementgesellschaft Hessen mbH (BMH), with participation from xdeck, a public innovation fund, as well as existing investors High-Tech Gründerfonds (HTGF) and Calm/Storm Venture.

'Our goal is simple,' explains Hahnenkamp. 'Every employee should be able to make data-driven decisions without writing a single line of code.' Beissel adds: 'We are the European counter-model to US tech companies. European SMEs deserve AI that is safe, explainable, and tailored to their needs, not an opaque black box approach.'

Web site: www.scavenger-ai.com .