London-based Procure AI, a company specialised in AI-driven procurement automation solutions, has raised $13M (approximately €11.2M) in seed funding.
The investment round was led by Headline, with additional contributions from C4 Ventures, Futury Capital, and several prominent angel investors within the procurement sector.
With the new funding, the UK company plans to strengthen its engineering capabilities and enhance its go-to-market strategy, expanding its presence beyond the DACH region to include the UK, Nordics, Benelux, and France.
What does Procure AI solve?
Procurement teams face operational complexity, but the material supplied with this funding announcement does not identify a source for the claim that 47 per cent of B2B buyers view it as a significant challenge.
The announcement also cites staffing, budget and skills shortages without identifying a source for its claim that 90 per cent of companies are affected.
The announcement attributes a claim of up to 10 per cent improvement in procurement productivity, quality and costs to The Hackett Group, but does not identify the underlying report.
It also cites claims of up to 47 per cent lower process costs and productivity gains above 50 per cent from advanced digital procurement, but no source is linked.
“Most procurement tools on the market ask enterprises to completely overhaul existing systems and start fresh. We took the opposite approach,” says Yves Bauer, Co-Founder and Co-CEO at 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.”
Procure AI: AI-native procurement automation platform
Founded by Konstantin von Bueren and Yves Bauer, Procure AI delivers an AI-native procurement automation platform for enterprises managing complex supply chains.
Through the deployment of intelligent agents, the company enables organisations to achieve measurable cost savings whilst reducing manual effort across sourcing, purchasing, compliance, and supplier management.
The company currently operates from London, Paris, and Frankfurt with backing from Headline, C4 Ventures, and Futury Capital.
The platform features over 50 AI agents categorised into three types: autonomous agents that independently execute procurement tasks, collaborative agents that assist with human decision-making, and ambient agents that offer proactive support.
This architecture enables comprehensive automation across sourcing, contracting, purchasing, and invoice management.
Procure AI says its Autonomous Spot-Buy and Tactical Sourcing tools deliver time savings of 35-46 per cent and savings of 3.7-5.2 per cent per event, while its Quote-to-Order Intake product can process 60 per cent of requests autonomously.
The company’s team of more than 40 operates across London, Paris, and Frankfurt, serving clients such as EnBW and Kärcher.
According to the company’s claims, customer implementations have shown impressive results, including a 30 per cent reduction in processing time, over 5 per cent additional savings, and an ROI of €2.35M annually from autonomous sourcing for enterprises with €70M in tail spend.
“We’re at an inflection point where procurement can no longer be a manual, people-intensive function,” says Konstantin von Büren, Co-Founder and Co-CEO at Procure AI. “Our enterprise clients are telling us they need to process 3x 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.”
