Magentic Secures $5.5 Million to Enhance AI in Supply Chains

Magentic has raised $5.5 million to expand its AI-driven platform for savings in global supply chains, with funding led by Sequoia Capital.

Magentic has raised $5.5 million to expand its AI-driven platform aimed at delivering savings across global manufacturing supply chains, announced in a press release. The funding round was led by Sequoia Capital, with participation from The Westly Group, First Momentum Ventures, and several angel investors.

Magentic's AI agents are designed to identify and deliver savings in complex and unstructured environments, such as those impacted by tariffs and global conflicts. The platform has already demonstrated success, with a $30 billion manufacturer saving 4% on machinery spare parts procurement.

The company, founded by Robin Van Aeken and Odhran O'Donoghue, aims to enhance procurement and supply chain operations by deploying AI teammates that work alongside human teams to improve outcomes. Magentic's clients span various sectors, including consumer goods, pharmaceuticals, and advanced manufacturing, across the US and Europe.

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