Facilitating the automated digital exchange of B2B documents such as purchase orders, delivery notes and invoices, Munich’s sento.io extended its pre-seed round, now reaching 2 million euros. The company plans to use the capital to further develop its product line, investigate use cases in verticals beyond its current focus on food retailers and suppliers, and increase headcount.
It’s no secret that the B2B business of keeping supplies on the shelves has been, shall we say, less than rapid in its adoption of digital technologies. Relying on ‘but this is how it always has been done’ methods that include, but not limited to, a fax machine to get things done, if the pandemic hasn’t shown us anything else, it is time for the pandemic to show us nothing else. ‘B2B data exchange business get to work and update.
“Many people are surprised when we describe how much global supply chains still depend on fax, email, or outdated system integration technologies. Our vision is to create a global infrastructure to lead the B2B data exchange into the 21st century – 100% cloud and API based ”comments sento.io co-founder and CEO Felix Krauth.
Without requiring a serious retooling of existing ERP operations, sento.io functions as a layer on top of this process and reduces a huge amount of manual work and human error when transferring documents, while providing real-time data. on the stock numbers and delivery status of the order.
For now, the startup is primarily focused on the food retailers and suppliers sector, having established partnerships with major German outlets including Rewe, Edeka, dm, Rossmann and Markant, and has vly, KoRo, and Oats among its customers.
Sento.io’s pre-seed funding is led by Picus capital, with expansion capital from angel investors, including Tom stafford (MD of World Daylight Saving Time, private investment) and the undisclosed founders of Celonis, Checkout.com (via Zinal Growth), Zalando, Flatiron
Health, Forto and GoCardless.
“From day one we were very impressed with the great vision and clarity of the team’s product strategy. In a very short time, Felix, Lucian and Nimar have created a plug and play platform that can already connect a large part of the German food industry via an API, ”concluded Picus Capital. Olivier Heinrich.