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11 April 2024·2 min read

Dara Kachinska

News Editor, Vestbee

German startup Scavenger AI raises €1.1M with HTGF as a lead investor

Berlin-based startup Scavenger AI secured €1.1 million for its AI consultant that helps businesses with data analytics, as informed. This round was led by HTGF, a German seed investor. Calm/Storm Ventures, Femventix, and the B4i Fund have joined as well. 

  • Scavenger AI was founded in 2023 by Maximilian Hahnenkamp and Felix Beissel, whose idea was to support businesses decision-making based on data analytics. Scavenger AI develops software that cleanses the data, does automatic statistical analysis, and presents the results, including the solution to the issue, both graphically and in a simple manner. 
  • The leading investor is HTGF, which finances early-stage tech startups and has already supported more than 700 companies since 2005. Additionally, more than 2,000 follow-on financing rounds totaling €5 billion have closed the HTGF portfolio of startups to date.

“AI is making businesses more efficient, and Scavenger AI is on the right track to revolutionize how companies can get unbiased insights from their data. I was especially convinced by the technical solution behind it, which already creates great value for their customer base,” said Kilian von Berlichingen, Senior Investment Manager at HTGF.

  • Other investors in the current round include Calm/Storm, an Austrian pre-seed and seed investor, Femventix, a German private investment firm specializing in pre-seed investments, and the B4i Fund, an Italian investing group Carina Roth, Investment Manager at Calm/Storm, shared:

“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 revolutionize 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.”

  • With this funding, Scavenger AI is planning to expand its team, create the required technology infrastructure, and release the product onto the market.

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