Chief Procurement Officers are increasingly taking advantage of data science and information technology to streamline procurement processes, from sourcing to payment.
LAUSANNE, Switzerland (PRWEB) April 10, 2020
“We are delighted that we found a growth partner that shares our belief in the potential of machine learning for energy and raw material procurement,” said Thomas Oriol, Director of Datapred. “We are especially thankful for Join Capital’s willingness to stick with the process and pull this investment off in today’s difficult circumstances.”
Chief Procurement Officers are increasingly taking advantage of data science and information technology to streamline procurement processes, from sourcing to payment. For energy and raw materials, machine learning solutions like Datapred provide industrial buyers with new opportunities to ‘trade around their assets’ – or purchase based on the real-time combination of market trend predictions and operational cost/constraint optimization.
Datapred is already helping clients optimize over €1 billion in energy and raw material spend across multiple categories, including metals, chemicals and power. The company’s objectives for the next few months are to increase product functionality (e.g. scenario building, risk factor analysis) and expand to geographies with favorable bases (e.g. Germany, Benelux).
Sebastian von Ribbentrop, Partner at JOIN Capital, will join the Datapred board as part of this funding deal.
“Procurement innovation is a top area of focus for us at JOIN,” Sebastian said. “Managing risk is a key issue for global Chief Procurement Officers, and Datapred has created a proven, AI-enabled optimization platform for procurement leaders. We couldn’t be more excited to partner with the exceptional team.”
Founded in 2015 and based in Lausanne, Switzerland, Datapred uses machine learning to generate an optimal purchasing program shaving 3-5% off its clients’ direct material costs, year over year. Datapred also provides the corresponding financial risk management tools.
About Join Capital
JOIN Capital is a Berlin-based, early-stage VC firm investing in the European Neue Industry. With a combined experience of more than 50 years among the partners, JOIN focuses primarily on industrial and enterprise startups that are laying new foundations for our increasingly automated and connected world. JOIN’s extensive network and expertise make it a unique VC for the European industrial landscape and the rise of smart factories and buildings.
For additional information on Datapred, please visit https://www.datapred.com/contact.
For additional information on Join Capital, please contact firstname.lastname@example.org.