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Tengouses AI to find , evaluate and react to public stamp . It ’s a software - as - a - service tool that helps troupe handle public tenders at scale — a bit likeGovlyin the U.S. Originally created within the startup studioHexa , the inauguration has raised a € 3 million financing unit of ammunition led byPoint Nine($3.2 million at current central rate ) .
For most company , public tenders represent a large untapped market because they require substantial imagination . In France alone , there are more than 200 platforms that host public tenders . And even if you identify opportunities , it requires quite a fleck of time to put together a warm program .
That ’s why many company rely on freelance or consulting firms to outsource this type of employment . But Tengo believes that technology could potentially simplify the entire value chain of public tenders .
“ In France , the administration spends half a billion euros every mean solar day — the administration in a broad sentience , including ministry , regions , departments , parapublic agencies , city , etc . , ” Tengo co - founder and CEO Hugues Renou order TechCrunch . “ In concrete terms , it ’s roundabouts , schoolhouse chairs or a grooming service . ”
Clients first create a provender of public legal tender by defining their criterion . After that , Tengo scan all the public portals that host attendant to find new tenders that would fit those standard .
Public stamp are usually exceedingly exact to keep off putrefaction or overspending . So company often end up reading through text file that can be up to 50 pages farsighted and trace what the governance is looking for .
One of Tengo ’s client isOpenClassrooms . “ Tenders for training courses are published every day . However , they are only interested in train path that are 100 % online , ” Renou enjoin . Instead of parsing through documents , Tengo identifies this element automatically , as well as 40 other criteria .
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As you may have guessed , Tengo uses unreal intelligence to analyse the info contained in those documents . It can highlight key aspects but also reference important pages .
And when it ’s time to resign an app , Tengo has ramp up - in AI integrations to generate document . I ’m sure many companies are using ChatGPT or another LLM - powered chat assistant to answer public tenders already . But with Tengo ’s desegregation , you do n’t have to tack to another serve .
Eventually , Tengo hopes that multiple Tengo customers will be able-bodied to collaborate and provide a joint app to a public tender . “ The government activity encourages SMEs to bid for public contracts , because they have a grade of expertise that big companies do n’t , but also because it ’s a direction to use public money to fund many more companies in the economy , ” Renou said .
The startup , which was founded last class , is still in its other days as it has only attracted dozens of clients . But some of its first clients let in OpenClassrooms , Citron , Theodo and Carrefour Pro . Now , let ’s see if it can turn this merchandise work into a successful business organisation as there are more than 40,000 company that respond to public tenders in France .
