German startup and former EU-Startups Summit Pitch winner Resourcly bags €2.7 million to cut manufacturing inventory inefficiencies
German startup Resourcly, an AI-powered platform for manufacturers, has secured €2.7 million in Seed funding to streamline inventory management. This investment highlights the growing interest in AI solutions for the manufacturing sector and the potential for European tech companies to drive efficiency gains. The company's focus on harmonizing parts data and optimizing inventory aligns with broader trends in digitalizing production. The funding round was led by Project A and included contributions from industry experts, such as Knut Alicke and Philip Harting. Resourcly's platform uses AI to identify and eliminate redundancies in parts data, offering qualified alternatives. The company, founded in 2023, estimates that manufacturers have $2.5 trillion tied up in idle inventory annually, underscoring the need for solutions that can enhance capital efficiency. Resourcly's platform aims to standardize inventory data, reduce part variants, and speed up time to market, benefitting manufacturers. The startup, which won the EU-Startups Summit 2024 Pitch Competition, claims its AI-based similarity analysis can save customers time and improve revenue potential. This investment supports the European digital sovereignty movement by fostering innovation in industrial AI and operations optimization.
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