Procure AI nets $13M to scale autonomous AI for procurement
London-based Procure AI has secured $13 million in seed funding to scale its autonomous AI platform for procurement and supply chain management. This investment, led by Headline, aims to enhance operational efficiency and cost savings for businesses navigating increasingly complex procurement processes. The company's innovative approach focuses on integrating and enriching existing procurement data to deliver rapid return on investment. Procure AI's platform tackles the challenges faced by procurement teams, including limited resources and rising costs. The platform employs over 50 AI agents across three categories: autonomous agents, collaborative agents, and ambient agents. Core solutions such as Autonomous Spot-Buy and Tactical Sourcing have demonstrated significant time reductions and savings, with Quote-to-Order Intake autonomously handling roughly 60% of requests. The platform's impact extends to companies struggling with operational complexity and compliance. By offering an AI-native procurement solution that spans the full range of processes, Procure AI aims to address these challenges. With the new funding, the company plans to expand its engineering team and strengthen its market presence, targeting growth across Europe, beyond its initial focus on the DACH region.
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