Amsterdam’s Altura, an AI-powered bid management startup, raised €8M in Series A funding led by Octopus Ventures to transform tender acquisition processes. With AI agents to streamline submissions, Altura aims to improve efficiency for businesses across sectors. The firm plans to enter the UK market, where public sector procurement spending is substantial. CEO Matthijs Huiskamp emphasizes the rising demand for bid management software, especially with the introduction of the new Procurement Act, signaling growth potential for companies seeking effective tender solutions.
"Bid management is an essential function in many companies, directly linked to companies' top-line growth. Altura is redefining what modern bid processes look like through its AI-powered solution, giving teams the automation and insights they need to operate at the next level."
"We see the UK as a perfect next step for Altura. While AI is still in the early stages of adoption in bid management, the UK is one of Europe's largest markets, with £350B spent annually on public sector procurement."
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