Frankfurt-based Qualifyze, an online platform for supplier audits, announced that it has raised $14M (approx €12M) in its Series A round of funding. The round was led by HV Capital. Existing investors also participated in this round including Cherry Ventures, Rheingau Founders, APX, and Dr. Udo Jung.
Pain point of the industry
According to Qualifyze, many industries face product recalls and supply chain issues. However, they are particularly critical in the pharmaceutical industry, where recalls can have dramatic effects, and can quickly lead to supply bottlenecks for medicine.