German AI startup Elevatry secures €3 million to automate procurement workflows

Munich-based AI startup Elevatry has secured €3 million in pre-Seed financing to bolster its platform, grow its team, and expand into Europe before moving into North America. The round was led by Bayern Kapital, H&Z management consultancy, and a group of business angels, including Jan Henner-Theißen, Martin Berr-Sorokin, Mike Simon, Markus Ehrle, Andreas Junck, and Alexander Bruehl.

Elevatry's co-founder and CEO, Heiko Schwarz, explains that strategic purchasing is a critical driver of results in companies, but currently, it's only utilized where there's enough capacity and expertise. His company's platform aims to change that by automating routine analytical work along the source-to-contract process. This enables procurement teams to leverage the methodology of top category managers for all products, thereby increasing efficiency and value creation.

The investors in Elevatry bring together capital, exclusive purchasing expertise, and market access. With their backing, Elevatry plans to demonstrate the impact of its platform on customers. The financing follows a series of European funding rounds in AI-powered procurement and related infrastructure during 2026, amounting to approximately €75.5 million raised this year.

Elevatry's AI-native platform offers a system of initiative, where companions handle routine analytical work, planning, prioritization, and proposal preparation. Decisions are made collaboratively, with customers configuring their own levels of autonomy, approvals, and data sovereignty on an open multi-LLM architecture. The company believes that strategic procurement significantly impacts the costs, quality, resilience, and compliance of the entire purchasing volume.