Funds for German Decision Analytics Firm Scavenger

Frankfurt am Main, Germany-based Scavenger AI, whose software allows client companies to perform complex data analyses in 'a few seconds', has raised EUR 1.1m in pre-seed funding. The money will help expand its team, and develop and launch its products.

Founded last year by Felix Beissel (pictured left) and Maximilian Hahnenkamp (right), Scavenger is developing three linked AI-based tools which promise to help companies 'make the best possible decision under any circumstances based on their data'. Data is cleaned, analysed automatically according to questions set by the user, and presented in concise and comprehensible form. Results are enriched with background industry data and presented in a dashboard format.

New funding was led by HTGF, with participation from Calm/Storm Ventures, Femventix, and the B4i Fund, and the company was previously backed by Cataligent. The founders said in a statement: 'We are particularly pleased to have such renowned investors on board who support us in our mission to show companies the best possible decision under any circumstances based on their data'.

Web site: www.scavenger-ai.com . Thanks to www.eu-startups.com for some of the above.