Magentic Raises $18 Million Series A To Expand AI Digital Workers For Global Manufacturers
· Source: pulse2.com
In short
Magentic raised an $18 million Series A led by Felicis, with Sequoia Capital and The Westly Group participating, to expand its multi-agent AI "digital workers" across procurement, supply chain and industrial operations. The London- and New York-based startup's agents run through Microsoft Teams, email and existing enterprise systems, handling supplier selection, contract negotiation, purchase orders and invoice clearing, and reportedly deliver 2% to 5% savings across a Global 500 customer base. Funds will go toward further agent development and research into longer, more complex optimization problems.
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Tags: procurement, agents, funding, supply chain, automation, manufacturing