Scavenger AI: The Smart Solution for Data-Driven Decisions in Business

The world of data analysis is often complex and resource intensive. The AI startup Scavenger AI aims to change this by helping companies derive valuable insights from their overwhelming data streams. We sat down with founders Felix Beissel and Maximilian Hahnenkamp to learn more about their vision, the challenges they faced, and their recent market launch.

How did the idea for Scavenger AI come about? What inspired you?

Maximilian: Felix and I both previously worked in large corporations, where we saw how cumbersome it is to work with the abundance of available data. Everyone says it’s crucial to leverage data for decision-making, but very few actually do it. Often, there’s a lack of time, resources, or technical know-how to dive into the data flood and generate valuable insights. This is a huge problem for data-reliant companies. We thought there had to be a simpler way, so we built a small prototype and saw it worked. That’s when we decided to start while we were still studying in Milan.

How do companies benefit from Scavenger AI?

Felix: In our previous organizations, maybe five percent of people could handle databases. With our software, we make that accessible to 100 percent. Anyone can use Scavenger AI to query the database. On top of that, we provide concrete action recommendations for each query. We automate tasks that were previously done by consultants or data analysts. This saves companies a lot of time and money while delivering better analytical results. Our customers especially value this in areas like supply chain, planning, product strategy, and manufacturing.

You won awards shortly after founding the company in late 2023 and secured a pre-seed funding round led by HTGF in early 2024. How did you experience the early days, and what has happened since the funding round?

Felix: The initial focus was on gaining traction. Even before the pre-seed round, we were in contact with industry players to get feedback on our MVP. The funding allowed us to expand the team, build the product and we’re very grateful for that. Our success hinges on having a strong team, particularly in software development. Our Founders’ Associate Anna, who has been supporting us on all fronts since the summer, has played a major role in helping us win more customers.

Maximilian: We’re now a team of 12, spread across globally, with locations in Vienna, Milan and Germany. We have coworking spaces in Cologne and are officially founded in Frankfurt. Long-term, we aim to bring everyone closer together and set up our own office. Currently, we’re looking for a Data Scientist as well as support in Business Development and Sales. Interested candidates can reach out to us directly.

You’ve quickly gained initial customers and recently announced your market entry.

Felix: Before entering the market, we worked closely with customers and prepared thoroughly. It was a natural process: we launched our software with a pilot customer who then used it, and more customers followed quickly. What was particularly important was conducting over 300 interviews beforehand, ensuring we developed the product to meet their needs.

Maximilian: And our solution is quick to implement for customers. We usually say one to two weeks. In individual cases, it takes longer, but often it’s even faster.

What’s next on your agenda after the market launch?

Maximilian: The primary goals are acquiring more customers and further developing our product. Product development remains central to staying competitive. We’re also focused on successfully securing our seed round next year. We need to hit the right numbers to ensure a successful funding round.

Felix: On the product side, we see increasing competition, but it tends to focus more on the technical perspective rather than addressing the needs of industrial users. Our opportunity lies in offering a tool that better addresses the specific challenges of mid-sized companies. That’s where we excel, as we solve their problems effectively and offer significant value. Our solution is equally beneficial for large corporations, and it’s currently being tested by several, including a major telecommunications provider.

What are your tips for founders in the early stages?

Maximilian: Two key points: First, approach customers as early as possible, even without a finished product, and try to sell what you have in mind. That’s the only way to learn what they truly value. Second, a pragmatic approach is crucial. You have to take action, do a lot of groundwork, and stay consistent. That’s what ultimately leads to success.

Felix: In my opinion, it’s very difficult to establish and build a company while pursuing another job on the side. It’s also important to seek advice and leverage your network. We have many smart people around us who are always happy to support and help us.

Thank you for your time and valuable insights!