Germany-based procurement tech company Matchory has secured €6M in equity financing led by Capmont, a Munich-based VC firm. Existing investors, including Earlybird-X and experienced angel investors from procurement and industry, joined the round.
The funding will drive international expansion across Germany and Europe, enhance the company’s data and matching technology, and strengthen its position in global supplier discovery. Matchory also plans to develop new features, including APIs and additional data source integrations for its supplier platform.
How Matchory transforms procurement through automated supplier intelligence
Founded in 2019 by Aiko Wiegand, Martin Konradi, and Nils Liskien, Matchory tackles critical procurement and supply chain management challenges. In particular, the company streamlines supplier discovery and strategic sourcing to create more efficient, resilient, and sustainable procurement processes.
Aiko Wiegand told TFN: “Companies struggle to find suitable manufacturers and access reliable supplier data. The market lacks transparency, and supplier scouting remains manual — which inspired our automation solution. Matchory clarifies supply chains by aggregating and mapping data from customs records and web crawling to build comprehensive supplier profiles.”
The company’s AI-driven procurement platform centralises supplier information for strategic decision-making. This cloud-based solution has revolutionised global supplier search and attracted major international clients, including DMG Mori, Tesa, Bosch, and Jungheinrich.
Matchory has joined the Factory-X consortium, partnering with industry leaders like SAP, Siemens, and about 50 other IT and industrial companies to advance supply chain digitisation, develop industry standards, and secure innovation funding.
Behind Matchory: AI manufacturing database
As the first platform to unite all manufacturers in one place, Matchory maintains a database of over 14 million supplier profiles through AI models and web scraping, covering 98% of global manufacturers. The AI models ensure data accuracy and reliability, providing users with the most up-to-date and comprehensive supplier information.
Matchory’s tech combines diverse data sources, especially customs records and web crawling, to create detailed supplier profiles. This comprehensive approach, which includes US import records and extensive web data, delivers deeper insights than competitors’ limited data sources, providing a reliable foundation for procurement decisions.
Wiegand elaborated further: “As Matchory built its data foundation, the integration of AI and machine learning, such as large language models, has further improved their search functionality and the quality of the results. This AI-powered approach sets them apart from competitors who may not have the same level of AI integration.”
The next wave of the procurement: from fragmentation to integration
A “procurement revolution” has sparked numerous startups offering specialised solutions, leading companies to adopt “best-of-breed” strategies with multiple tools for different functions, from supplier scouting to risk management and ESG data.
Modern purchasing goes beyond cost considerations, embracing risks, quality standards, time to market, ESG compliance, innovation potential, and supply chain relocation. Matchory’s platform, with its comprehensive supplier profiles, smart matching algorithms, and AI-driven insights, helps companies navigate these complexities while building resilient procurement processes. It offers a one-stop solution for all procurement needs, saving time and resources for our clients.
Wiegand predicted: “In the future, this fragmented landscape will consolidate, with increased integration between procurement tools and potential mergers among companies. AI will be crucial in procurement’s future, particularly in automating processes, optimising data quality, and enhancing supplier-buyer collaboration.”
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