Vanilla Steel operates a digital marketplace that helps match excess steel with buyers via weekly auctions and aims to shorten negotiation periods. Launched just last year, the platform targets a roughly $330 billion EMENA market that has been slow to digitise. The company is already active in 50 countries, counts over 100 suppliers, and has had more than 90,000 tonnes of steel listed since launch. The founding team — Alexis Ducros, Clifford Ondara, Matthias Affeldt, and Simon Zühlke — met during an Entrepreneur in Residence programme with thyssenkrupp Steel, though Vanilla Steel has no capital ties to thyssenkrupp. The startup says it aims to bring simplicity and smart data to the steel industry and to facilitate the sector's digital transformation.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2021