AI agents hit the supply chain: British AI startup Magentic raises €4.6 million to scale enterprise automation
· Source: eu-startups.com
In short
London-based AI startup Magentic has raised €4.6 million to develop autonomous AI agents, called Mages, that automate procurement and supply chain operations to reduce inefficiencies and drive cost savings. Early deployments have shown savings between €8.5 million and €17 million annually for clients, using a pay-per-cure model that ensures payment only upon delivered value.
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In the issue of week 30, 2025: AI-Driven Automation and Security Redefine Global Supply Chains
Tags: automation, supply chain, procurement, enterprise, agents, cost savings