Nvelop, a Helsinki-based innovator in agentic sourcing, in the present day introduced it has closed a €1.2 million Seed funding spherical to develop enterprise procurement via agentic AI – turning guide sourcing processes into real-time strategic capabilities.
The spherical was led by Failup Ventures, with continued participation from present investor Antler.
“Securing this funding in in the present day’s market surroundings reinforces the power of our group, our know-how, and our long-term imaginative and prescient,” stated Mikko Valorinta, CEO of Nvelop. “This backing permits us to double down on innovation and keep laser-focused on creating actual worth for our clients.”
Based in 2024 by Mikko Valorinta, Nithin Nadagouda, and Ilkka Uuhiniemi, Nvelop is an innovator in AI-powered procurement that accelerates sourcing processes whereas lowering prices and making certain compliance. The corporate’s agentic AI platform alleges to extend sourcing impression by delivering extremely tailor-made options with robust organisational alignment and stakeholder buy-in.
The AI-native system helps the whole sourcing lifecycle – from capturing necessities and producing RFPs to evaluating proposals, facilitating negotiations, and managing contracts. All of this takes place inside a single, auditable workspace designed for alignment and stakeholder engagement.
Oscar Andersin, Basic Companion at Failup Ventures, commented: “From our first conversations, we had been impressed by Nvelop’s sharp imaginative and prescient and distinctive group. They’re not simply including AI to present workflows – they’re rethinking procurement from scratch. We’re proud to assist an organization combining deep buyer focus with daring technological ambition.”
Relatively than treating AI as an add-on, Nvelop says they’ve reimagined the sourcing course of from the bottom up – with agentic AI at its core. Its intuitive workflows amplify human decision-making, leveraging AI for key insights and automating compliance-heavy duties. With a chat-first interface, Nvelop permits groups to run advanced sourcing processes with unmatched simplicity.
Jussi Kallasvuo, Companion at Antler, added: “Procurement processes are multi-faceted, tedious and in the end painful. Nvelop’s ground-up agentic strategy will certainly be welcomed by procurement professionals worldwide. We’ve labored with group since day zero and been impressed by their velocity and prime quality of execution.”
With the worldwide procurement software program market anticipated to exceed €10 billion within the coming years, Nvelop is positioning themselves to seize a major share.
Its platform reportedly delivers quicker sourcing, value financial savings, regulatory assurance, and higher enterprise outcomes via enhanced answer match and stakeholder alignment.
With the brand new funding, Nvelop plans to speed up product improvement, broaden its engineering group, and scale its go-to-market efforts.
