Scavenger AI secures €1.1m pre-seed funding for data-driven decision-making

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The AI start-up helps companies to use their data to make the best possible decision under any circumstances

In the first quarter of 2024, Scavenger AI, a pioneering German startup specializing in data analytics and artificial intelligence, completed its pre-seed funding round, amassing €1.1 million. The investment round was led by HTGF and supported by Calm/Storm Ventures, Femventix, and the B4i Fund (through the 4-month acceleration program B4i – Bocconi for Innovation in Milan). This financial infusion will revolutionize how companies tackle complex data analyses, enabling them to generate actionable insights within seconds.

Felix Beissel and Maximilian Hahnenkamp, Scavenger co-founders
Felix Beissel and Maximilian Hahnenkamp, Scavenger co-founders

In today’s data-driven world, companies are inundated with information, yet they often find themselves constrained by limited time and resources to transform this data into actionable strategies. This capability gap can complicate decision-making processes, especially when critical data is not readily converted into practical applications. Addressing this challenge, Scavenger AI has developed a trio of proprietary AI tools seamlessly integrated into a single workflow. These tools are designed to decode complex data puzzles, allowing companies to make informed decisions rapidly.

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
Felix Beissel, Scavenger co-founder
Felix Beissel, Scavenger co-founder

Scavenger AI has refined its approach to handling data by developing a streamlined process that cleanses data and conducts automatic statistical analyses. The results of these analyses are then presented textually, in straightforward language, and visually, through intuitive graphics, directly addressing the problem.

Previously supported by Cataligent, the startup is leveraging its recent funding influx to broaden its team and enhance its technological framework. This strategic expansion is aimed at aligning with the evolving needs of their clientele and facilitating the rollout of their innovative software into the marketplace.

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

The seed investor High-Tech Gründerfonds (HTGF) finances tech start-ups with growth potential and has supported more than 700 start-ups since 2005.

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

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.