Founded by Felix Beissel and Maximilian Hahnenkamp in 2023, the company has developed a semantic layer that translates business data into analyses through language queries, without dashboards or code.

The funding round was led by BMH Beteiligungs-Managementgesellschaft Hessen mbH (BMH), with participation from public innovation fund xdeck and existing investors High-Tech Gründerfonds (HTGF) and Calm/Storm Venture.

Scavenger AI said it plans to use the investment to accelerate its product development and expand within Europe.

The company has designed the platform for small- to medium-enterprises (SMEs) in the DACH region, with a focus on being compliant with GDPR.

Co-founder Maximilian Hahnenkamp said: “Every employee should be able to make data-driven decisions without writing a single line of code.”

Co-founder Felix Beissel added: “We are the European counter-model to US tech companies. European SMEs deserve AI that is safe, explainable, and tailored to their needs.”

Investment and venture capital company BMH, based in Wiesbaden, is a wholly-owned subsidiary of Landesbank Hessen-Thüringen Girozentrale.

Sebastian Schnell, senior investment manager at BMH, said: “The solution enables efficient use and protection of data, increases productivity and competitiveness, and thus makes a decisive contribution to digital transformation – with clear scaling potential.”