BERLIN — akirolabs, a Berlin-based ProcureTech startup revolutionizing strategic procurement with AI, has been awarded a significant seven-digit, non-dilutive grant from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF). This funding follows the company’s successful $5M seed round earlier in the year, signaling strong support for its innovative AI-driven solutions in procurement.

The grant recognizes akirolabs’ cutting-edge advancements, particularly the development of akiroAssist, its proprietary expert Large Language Model (LLM) designed for strategic procurement. The company’s groundbreaking work in AI integration has set it apart in the ProcureTech space, and this funding will propel further innovation and product development.

akirolabs is working on what it describes as the “Penrose Triangle of ProcureTech”—a unique, near-impossible-to-replicate combination of three core elements: profound procurement domain expertise, a revolutionary methodology, and a powerful AI engine that integrates LLM, Retrieval-Augmented Generation (RAG), and Ontology. This holistic approach positions akirolabs as a leader in transforming procurement practices.

The company will use this grant to enhance its AI/LLM capabilities and solidify its position as the AI-first B2B SaaS provider in ProcureTech. This will allow akirolabs to accelerate the development of its platform, expand its team, and continue its mission of reshaping the future of procurement.

Michael Pleuger, CEO of akirolabs, expressed his gratitude for the recognition: “We are deeply honored to receive this grant from IBB ProFIT and ERDF. This support strengthens our resolve to push the boundaries of innovation in procurement,” he said. “We are excited for the journey ahead and are thankful to our investors, customers, and partners.”

Industry experts, including Elouise Epstein, KEARNEY Partner, have already recognized akirolabs’ potential, with Epstein calling the company’s work a “breakthrough innovation” that could drastically reshape category management as we know it.

Founded in 2021, akirolabs offers a comprehensive AI-powered SaaS platform that redefines collaborative strategic procurement. By combining industry-proven methodologies with intuitive workflows, akirolabs helps companies achieve higher-value procurement strategies while contributing to their overall success.