Procure AI secures $13 million to expand AI-driven procurement automation across Europe

London-based Procure AI, specialising in AI-powered procurement solutions, raises $13 million to accelerate growth and expand its innovative platform across Europe, transforming supply chain management amid rising industry demands.

London-based Procure AI, a company specialising in AI-driven procurement automation solutions, has secured $13 million (approximately €11.2 million) in seed funding to accelerate its growth and technology development. The investment round w...

as led by Headline, with participation from C4 Ventures, Futury Capital, and several prominent angel investors within the procurement sector.

Procure AI aims to use the fresh capital to bolster its engineering capabilities and enhance its go-to-market strategy, targeting geographic expansion beyond its current focus on the DACH region (Germany, Austria, and Switzerland). The company plans to extend its footprint to the UK, the Nordics, Benelux, and France, reflecting a broader ambition to transform procurement operations on a wider European scale.

The company’s core offering is an AI-native procurement automation platform designed to simplify and enhance complex supply chain management for enterprises. Founded by Konstantin von Büren and Yves Bauer, Procure AI differentiates itself by integrating its technology with existing fragmented data landscapes, enhancing and making sense of current systems rather than requiring a complete overhaul. “Most procurement tools on the market ask enterprises to completely overhaul existing systems and start fresh. We took the opposite approach,” said Yves Bauer, Co-Founder and Co-CEO of Procure AI. “Our platform sits on top of fragmented data landscapes and makes them intelligible – enriching what’s there rather than replacing it. That’s why we can deliver ROI in months, not years, and why our clients see us as a true partner rather than another vendor.”

The platform deploys over 50 specialised AI agents, segmented into three categories: autonomous agents that independently execute procurement tasks; collaborative agents that assist human decision-making; and ambient agents that provide proactive support. This multilayered AI architecture enables comprehensive automation across the entire procurement cycle, including sourcing, contracting, purchasing, compliance, and invoice management.

Procure AI’s solutions demonstrate tangible business benefits for their clients. Key offerings like Autonomous Spot-Buy and Tactical Sourcing have shown time savings of between 35 and 46 per cent and cost reductions of 3.7 to 5.2 per cent per event. Additionally, their Quote-to-Order Intake solution enables about 60 per cent of requests to be processed autonomously. According to the company’s claims, implementations have resulted in a 30 per cent reduction in processing time, over 5 per cent additional savings, and an annual return on investment of €2.35 million from autonomous sourcing for enterprises managing €70 million in tail spend.

These results reflect wider trends in procurement challenges and opportunities. Industry data reveals that 47 per cent of B2B buyers identify operational complexity as a major hurdle. Moreover, 90 per cent of companies face resource constraints including limited staffing, budget pressures, and skills shortages, which hamper their ability to modernise procurement functions. Research from The Hackett Group supports the growing role of AI in procurement, finding that AI-driven approaches can improve productivity, quality, and cost efficiency by up to 10 per cent. Companies adopting advanced digital procurement strategies may see process costs reduced by up to 47 per cent and productivity gains exceeding 50 per cent through technologies like generative AI.

Konstantin von Büren, Co-Founder and Co-CEO at Procure AI, emphasised the changing procurement landscape: “We’re at an inflection point where procurement can no longer be a manual, people-intensive function. Our enterprise clients are telling us they need to process three times the volume of sourcing events with flat or declining headcount. The only way forward is through AI agents that can operate autonomously whilst maintaining the rigour and compliance that procurement demands.”

With offices in London, Paris, and Frankfurt and a growing team of over 40 employees, Procure AI is positioned to capitalise on the rising demand for intelligent procurement automation. Its approach of augmenting existing systems rather than replacing them reflects a pragmatic and client-centric philosophy, which could accelerate adoption and deliver measurable returns in a sector facing increasing performance pressures.

Source: Noah Wire Services