Berlin, Germany – November 4, 2024
Plato, a Berlin-based startup revolutionizing wholesale sales processes with AI-driven automation and intelligence, has announced a successful pre-seed funding round of $6.5 million. The round was led by Cherry Ventures and supported by a network of high-profile angel investors from tech giants like Microsoft, SAP, NVIDIA, and Celonis.
Addressing Wholesale Industry Challenges
The wholesale sector faces significant hurdles, including economic uncertainty, labor shortages, and the need for digital transformation. Plato’s AI-powered platform provides sales intelligence and workflow automation to address these challenges, enabling wholesalers to:
• Increase efficiency by automating manual sales processes like quoting and order creation.
• Enhance decision-making through data-driven sales recommendations for cross-selling, up-selling, and churn prevention.
• Boost customer engagement by reallocating 20% of time saved from routine tasks to customer-facing activities.
Plato’s platform integrates seamlessly with existing ERP systems, allowing companies to scale operations efficiently and onboard new employees faster.
Vision and Validation
Co-founder and CEO Benedikt Nolte described Plato’s mission:
“Our solution transforms how distributors engage with data and automate processes, unlocking new levels of profitability for our clients.”
Cherry Ventures Partner Jasper Masemann praised Plato’s innovative approach:
“Plato’s product aligns perfectly with our core AI thesis of augmenting the modern workforce. Their team’s deep industry knowledge and technical capabilities uniquely position them to lead the wholesale sector’s transformation.”
Future Plans
With the new funding, Plato aims to:
1. Expand its team to scale product development and enhance AI capabilities.
2. Onboard larger clients, particularly distributors with thousands of sales representatives.
3. Further optimize its platform for automation, helping wholesalers navigate industry challenges with sustainable growth strategies.
Plato’s early success includes partnerships with major German distributors, where clients report significant efficiency gains and reduced manual tasks.
About Plato
Founded in 2023 by Benedikt Nolte, Matthias Heinrich, and Oliver Birch, Plato is developing an intuitive platform that automates ERP processes for wholesalers. By centralizing sales intelligence and automating workflows, Plato empowers sales teams to drive growth and operational efficiency.
For more details, visit Plato’s website.
