Insider Brief
- Scavenger AI, a German data analytics and AI startup, secured €1.1 million in pre-seed financing led by High-Tech Gründerfonds (HTGF), with additional participation from Calm/Storm Ventures, Femventix, and the B4i Fund.
- The funding will support team expansion and the development of the startup’s technological infrastructure to launch its software on the market.
- The company developed three proprietary AI tools that work together to streamline the data analysis process and these tools cleanse data, perform automatic statistical analysis, and present solutions in an easy-to-understand format, helping businesses make informed decisions quickly.
PRESS RELEASE — Frankfurt, Germany/April 8, 2024 — The German data analytics & AI start-up Scavenger AI secures its pre-seed financing in Q1 2024. A total of € 1.1 million was raised under the lead of HTGF together with Calm/Storm Ventures, Femventix, and the B4i Fund to enable companies to perform complex data analyses in just a few seconds.
Companies are generating more and more data, but there is a lack of time and, above all, resources to convert this data into recommendations for action. This makes it even more complex for companies to make decisions when they lack the necessary information. That is why Scavenger AI developed three proprietary AI tools that are linked together in a workflow to solve companies’ problems in just a few seconds.
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.
Maximilian Hahnenkamp, Felix Beissel, founders of Scavenger AI
Scavenger AI cleanses the data, automatically analyses it statistically and displays the analysis, including the answer to the problem, in simple language as well as graphically.
The start-up was previously backed by Cataligent and is using the new funding to expand its team and develop the technological infrastructure to meet current customer requirements and launch the software on the market.
AI is making businesses more efficient, and Scavenger AI is on the right track to revolutionise how companies can get unbiased insights from their data. I was especially convinced by the technical solution behind it, which already creates great value add for their customer base.
Kilian von Berlichingen, Senior Investment Manager at HTGF
We have invested first and foremost in a strong, young and ambitious team, led by Maximilian and Felix, who know what it takes to win! With Scavenger AI, they are on a mission to revolutionise the way companies think and act. The AI technology they have developed will make it easier for companies to solve daily business challenges faster and easier and to develop action-oriented and data-driven insights more efficiently.
Carina Roth, Investment Manager at Calm/Storm
About Scavenger AI
Scavenger AI develops three proprietary AI tools, linked in a workflow, which allow companies to make the best possible decision under any circumstances based on their data. The software cleanses the data, automatically analyses it statistically based on the user’s questions and presents the analysis in simple language. Finally, all mathematical results are enriched with industry data and presented in the form of a dashboard.
More information at: www.scavenger-ai.com
About Calm/Storm Ventures
Calm/Storm Ventures is a Vienna-based pre-seed and seed investor that operates vertically focussed funds. Calm/Storm is the most active healthtech investor in Europe and also invests in Austrian founders in other sectors. The team consists of experienced investors and entrepreneurs and an additional 60 Supporting Partners, all experienced founders themselves, who share their experiences and learnings with Calm/Storm’s now 80 portfolio companies.
With the current raise of its latest fund, Calm/Storm Ventures remains committed to supporting innovative founders in the earliest stages of development.
About Femventix:
Femventix GmbH, based in Frankfurt am Main, is a private investment firm specialising in pre-seed investments. In addition to providing capital, Femventix focuses on mutual learning and offers strategic support by utilising its own network and expertise. The aim of Femventix is to bring more diversity into the shareholder structures of young companies and to promote disruptive ideas that have a positive impact on the wider community and Europe as a business location.
About High-Tech Gründerfonds
The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported more than 700 start-ups since 2005. With the launch of its fourth fund, HTGF now has about 1.4 billion euros under management. Its team of experienced investment managers and start-up experts support young companies with expertise, entrepreneurial spirit and passion. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial tech, life sciences, chemistry and related business areas. To date, external investors have injected about 5 billion euros of capital into the HTGF portfolio via more than 2,000 follow-on financing rounds. In addition, HTGF has already successfully sold shares in more than 180 companies.
Fund investors in this public-private partnership include the German Federal Ministry for Economic Affairs and Climate Action, KfW Capital and 45 companies from a wide range of industries.
Media contact
High-Tech Gründerfonds Management GmbH
Tobias Jacob, Senior Marketing & Communications Manager
T.: +49 228–82300–121
[email protected]
