Nvelop, a Helsinki-based innovator in procurement technology, successfully secured €1.2 million in seed funding, led by Failup Ventures, to enhance its agentic AI-driven sourcing platform.

Target Information

Nvelop, headquartered in Helsinki, is an innovative force in the field of agentic sourcing, having successfully closed a €1.2 million seed funding round to further its mission of transforming enterprise procurement with agentic AI. This funding round was spearheaded by Failup Ventures, with continued support from existing investor Antler. The investment will enhance Nvelop's capability to revolutionize slow, manual sourcing processes into efficient, real-time strategic operations through the application of advanced AI technologies.

The company's agentic AI platform is designed to provide substantial business benefits by accelerating sourcing cycles, decreasing client expenditure, and ensuring full compliance. A distinguishing feature of Nvelop's offering is its integration of the entire sourcing lifecycle, which includes requirement gathering, proposal generation (RFPs), thorough proposal evaluations, negotiation facilitation, and contract management—all within a cohesive, auditable workspace focused on alignment and stakeholder engagement.

Industry Overview

The procurement software market is booming globally, anticipated to surpass €10 billion in the coming years. This growth is driven by an increasing necessity for organizations to streamline their procu