AI-powered Supply Chain Coordination Platform Mandel AI secures €3.6 million in Seed Funding

Mandel AI Secures €3.6 Million in Seed Funding for AI Supply Chain Coordination

Mandel AI, a startup based in Sofia, specializes in AI supply chain coordination to assist manufacturers in managing supplier coordination, detecting disruptions, and automating procurement. Recently, the company announced the closure of a €3.6 million Seed round.

The funding round received support from notable investors such as Y Combinator, Category Ventures, Ritual Capital, e2vc, and other prominent Silicon Valley investors and angels.

Founder and CEO, Nick Gospodinov, stated, “Every supply chain system was built to track what happened. None were built to read and act on what’s happening right now. We built the AI for the people who keep supply chains running.”

Established in 2023, Mandel AI aims to revolutionize industrial supply chains by replacing outdated methods like spreadsheets and email chains. The platform utilizes email AI to surface supply chain disruptions and supplier updates.

According to the company, the platform integrates with existing email and ERP systems, employing AI agents to extract critical data from supplier communications, reconcile documents, and take autonomous actions. This enables efficient coordination with suppliers and escalation of issues based on predefined rules.

Mandel AI claims that with their technology, a single procurement manager can now handle tasks that previously required an entire team, significantly streamlining operations.

With the new funding, Mandel AI plans to establish itself as the leading API for international trade communication, offering autonomous supply chain management solutions for manufacturers and distributors across North America and Europe.

The startup has already processed over €920 million in material spend for clients in aerospace, pharmaceuticals, industrials, and other complex manufacturing industries.