Cobalt has advised Berlin-based early-stage investor Project A on its investment in Estonian start-up Pactum, an AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale.
The USD 3 million seed financing round that was led by Project A included investments by DocuSign and other previous Pactum investors.
According to Cobalt, "Pactum was founded in 2019 to help companies uncover hidden value in supplier contracts. Many Fortune Global 2000 companies have thousands of vendors with contracts that have been neglected for long periods of time because the value of the contracts are too small and too numerous to warrant proper procurement specialists’ time. Pactum autonomously negotiates these supplier contracts, which releases significant capital to the bottom line while also improving terms for vendors. Walmart is one of the first customers Pactum is able to disclose."
“We are convinced that AI-based systems will shape the future of commercial negotiations," said Uwe Horstmann, General Partner of Project A. "Pactum is well on its way to play an essential role in this future."
Cobalt's team consisted of Partner Peeter Kutman and Senior Associate Madis Reppo.
Cobalt did not reply to our inquiry on the matter.