Archlet receives injection of venture capital

Wingman Ventures has invested in Archlet, a start-up headquartered in Zurich. Archlet is planning to use the capital obtained from this pre-seed financing to further develop its cloud-based sourcing platform and to expand the customer base, as revealed by a communication published on startupticker.ch.

Archlet was founded by three graduates from the Swiss Federal Institute of Technology in Zurich (ETH). It is a Software-as-a-Service (SaaS) company, which offers sourcing solutions for large companies and SMEs. Using cutting-edge analysis and data technology, Archlet searches through all available supplier offers, before the software then quickly determines the optimum sourcing strategy. Finally, it helps to proactively support buyers by way of data-led negotiations. As reported by the start-up, its customers have so far managed to save between 3% and 15% in addition to optimizing more than 2 billion Swiss francs in expenditure.

Lukas Weder from Wingman Ventures was quoted in the article on startupticker.ch: “With Archlet, we back a highly innovative solution that aims to make strategic sourcing an effortless process”. Weder is now also set to join the board of the start-up. “Many organizations count on procurement to deliver sustainable savings”, explains Karin Hagen-Gierer from Archlet, who previously worked for several years in the sourcing teams at Sanofi and Unilever. In her view, the solution developed by Archlet will “boost savings across all spend categories and create headroom for new strategic initiatives and additional levers in the value chain”.