Procurement & Supply Chain Headaches No More With German Startup’s AI Pill

James Dargan

The Plan

The German Federal Government’s National AI strategy, a plan laid down in November 2018 jointly developed by the Federal Ministry of Education and Research, the Federal Ministry for Economic Affairs and Energy, and the Federal Ministry of Labour and Social Affairs, has a very interesting strategy with the aim of achieving the following goals:

• Increasing and consolidating Germany’s future competitiveness by making Germany and Europe a leading centre in AI

• Guaranteeing a responsible development and deployment of AI which serves the good of society

• Integrating AI in society in ethical, legal, cultural and institutional terms in the context of a broad societal dialogue and active political measures

And while all these intentions are good on the federal and state level, what’s happening on the commercial side of things, with a number of AI startups performing incredibly, is nice to hear as well with companies like Arago, Attention Insight, Viscopic, and Quality Match — some already acquired by bigger concerns for their unique IP — are making their mark in the German deep tech sector.

Scoutbee, founded by Christian Heinrich, Fabian Heinrich, Gregor Stuhler and Lee Galbraith in 2015, is another such example with its AI-powered supplier discovery suite for procurement and supply chain experts.

Scoutbee

Based in Würzburg, Bavaria but with operations and a site in the US too, Scoutbee has raised an impressive $76 million in funding over three rounds. Its latest — a $60-million Series B round led by Atomico — came in January 2020, giving the startup’s software-as-a-service suite, powered by AI and big data, the chance to evolve and expand even further with its team of purchasing, operations, engineering and, data science experts.

The advantage of Scoutbee’s SaaS suite for a digital supplier search is drawn from its ability to search, discover, analyze, and automate AI-driven supplier longlists, allowing for operational efficiency and quick time-to-market, essential in today’s dynamic and ever-changing business environment.

scoutbee delivers verified supplier information to support robust, agile and strategic buying decisions

As of late 2021, Scoutbee can boast 135 plus employees based in Europe and the US and over 150 clients that include Audi, Siemens, Airbus, Bosch Rexroth, Heidelberg, and SEW Eurodrive.

Gregor Stühler is the CEO and Co-Founder of Scoutbee, and the only co-founder still currently working there. With close to a decade’s worth of experience in B2B sales for automotive electronic drive technology and industrial electronic motors, he combines financial and commercial expertise with exceptional leadership and management qualities to penetrate international markets.

Stühler obtained an M.Sc. in Business Administration from the Hult International Business School, Berkhamsted, UK.

Scoutbee’s mission to connect companies with the best suppliers from around the world by employing AI technology is already happening. And as it grows, through either organic growth or VC capital investment, Scoutbee is doing the German AI startup scene proud, whichever way you look at it.

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