Lhotse Analytics secures funding from The ISB.

Lhotse Analytics, a Koblenz, Germany-based developer of a purchase as a service software tool, announced that it was funded by the German authorities via The Investment and Structure Bank Rhineland-Palatinate (ISB).

Financial details were not disclosed. The deal was made through a subsidiary, the Wagnisfinanzierungsgesellschaft für Technologieförderung in Rheinland-Pfalz mbH (WFT), with funds from the Innovationsfonds II.

Lhotse Analytics, founded in 2020 by Nicolas Neubauer and Daniel Demuth, developed software for strategic purchasing that uses internally developed algorithms and business intelligence to identify potential savings. By comparing requirements with current market price developments and supplier data, companies can negotiate more confidently with suppliers and make decisions more easily.