Altura, an artificial intelligence software company, is expanding its operations into the UK after securing €8 million (£6.7 million) in Series A funding. The investment will accelerate the growth and launch of its autonomous AI agents designed to help businesses win more tenders.
The Amsterdam-founded start-up has now opened a London office, aiming to transform the bid management process by automating time-consuming tasks such as finding relevant tenders, drafting proposals, and analysing performance. The funding will also enable Altura to further develop its agentic AI system, which goes beyond chatbots to complete tasks and make decisions.
Matthijs Huiskamp, founder and chief executive of Altura, stated: “We see the UK as a perfect next step for Altura. While artificial intelligence is still in the early stages of adoption in bid management, the UK is one of Europe’s largest markets, with £350 billion spent annually on public sector procurement.”
Mr. Huiskamp added: “With the new Procurement Act, we see an even bigger need for bid management software, since this will enable and encourage even more companies to participate in the tenders. This creates more demand for software such as ours that helps companies work more efficiently to win more bids. This investment accelerates our vision, and our London launch brings it into one of the world’s busiest tender markets, giving UK organisations the speed and clarity they need to win more deals.”
Altura’s platform is already in use by companies including EY, Adecco, and Ricoh. The expansion into new markets is backed by Octopus Ventures and existing investors Fortino Capital, Curiosity VC, and P1ST investors.
Constanza Diaz, investor at Octopus Ventures, commented: “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 artificial intelligence-powered solution, giving teams the automation and insights they need to operate at the next level.”
Image source: Altura
