Torg Raises €2.7 Million in Seed Round

Berlin-based startup Torg has secured €2.7 million in a seed funding round. The company, which specialises in digital product sourcing for buyers and suppliers, closed the oversubscribed round in April 2024. Its AI-driven platform aims to streamline how businesses discover and work with suppliers across Europe.

Torg was founded in 2022 by Hans Kristian Furuseth, Ben Holdham, and Rita Kerbaj. The team built a platform that uses machine learning to gather data, analyse supplier reliability, and create detailed supplier profiles. This helps businesses with private label and food service projects manage sourcing, negotiations, and verification in one place.

The €2.7 million funding will go towards improving the platform’s features and expanding its supplier network. Torg already connects buyers with over 100,000 verified food and beverage suppliers in Europe. The investment will also support the development of more user-friendly tools for sourcing. Connect Ventures, a London-based venture capital firm, led the funding round. Other participants included existing investor FoodLabs and new backers such as Sondo, Ventures Together, Sameer Singh, and Jonas Meynert. Earlier investors 468 Capital, 7percent Ventures, and Speedinvest also joined the round. Torg operates in the product sourcing software sector, offering a centralised system for supplier discovery, communication, and financing. The company’s website, usetorg.com, provides access to its services for businesses looking to simplify their procurement processes.

The funding will allow Torg to enhance its AI-powered tools and grow its supplier database. With a focus on food and beverage sourcing, the platform aims to make procurement faster and more efficient for European businesses. The company plans to roll out updates and new features in the coming months.