Magentic has closed a $5.5 million funding round aimed at supporting team expansion and growth. The company specializes in AI agents that identify savings across global manufacturing supply chains. Supplier compliance issues, which cost organizations significantly, highlight the need for their innovative solutions. The funding will be used to enhance their capabilities and address procurement challenges.

Magentic is an AI agent platform that identifies savings across global manufacturing supply chains. It integrates ready-to-use AI agents tailored for procurement and supply chain operations, aimed at uncovering and capturing savings in complex environments. The company serves various industries including consumer packaged goods, pharmaceuticals, and advanced manufacturing. Its technology allows companies to improve outcomes for their suppliers and customers while keeping human expertise at the forefront.

https://www.magentic.com/

Magentic raises $5.5M to enhance AI-driven procurement solutions and expand its team.

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Magentic raises $5.5M to enhance AI-driven procurement solutions and expand its team.

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