German AI Procurement Automation Startup Elevatry Raises €3 Million in Funding

Elevatry, an AI platform for strategic procurement based in Munich, has successfully closed a pre-Seed financing round of €3 million. The funding will be used to enhance the platform, expand the team, and support market entry in Europe before expanding to North America.

The investors in this round include Bayern Kapital, H&Z management consultancy, and several business angels such as Jan Henner-Theißen, Martin Berr-Sorokin, Mike Simon, Markus Ehrle, Andreas Junck, and Alexander Bruehl.

Heiko Schwarz, the co-founder and CEO of Elevatry, emphasized the importance of strategic purchasing in driving results for companies. He highlighted the expertise and capacity required for effective strategic purchasing and expressed confidence in Elevatry’s ability to bring impact to its customers.

Elevatry’s financing round is part of a trend in AI-powered procurement funding in Europe, with other companies like Pivot, Soource, Procuros, and Finches also securing significant investments.

Bayern Kapital, a participant in Finches’ pre-Seed round, recognizes the potential of AI-driven procurement technology and continues to invest in this sector.

The total funding raised in comparable announcements covered by EU-Startups in 2026 amounts to approximately €75.5 million, with Elevatry’s round contributing to a total of €78.5 million.

Monika Steger, Managing Director of Bayern Kapital, commended Elevatry for its experienced team and clear vision for the future of strategic procurement. She highlighted the platform’s potential to generate tangible customer benefits through the intelligent use of procurement knowledge and data.

Elevatry, founded in 2026 near Munich, is an AI platform for strategic procurement. Its AI companions handle analytical work throughout the source-to-contract process, providing industry-specific expertise to procurement teams.

The company emphasizes the significant impact of strategic procurement on costs, quality, resilience, and compliance within organizations. Elevatry aims to empower purchasing teams with AI technology to unlock untapped potential and drive improved results.

Harald Enz and Jonas Harm, Managing Partners of H&Z, expressed their support for Elevatry’s innovative approach to procurement. They highlighted the company’s unique combination of AI technology and procurement domain knowledge, positioning it for success in the rapidly growing market for AI-powered procurement software.

Elevatry plans to use the funds to further develop its platform and expand its team in key areas such as engineering, AI, marketing, and customer support. The company’s initial focus is on market entry in the DACH region and the EU, with plans for international expansion in North America.