SiliconANGLE reported on Nov. 27 that Procure AI, an AI agent-based procurement solutions company, raised 13 million dollars in seed funding.
According to the company, it developed a platform that automates corporate procurement by using Procure AI agents to cut costs and improve efficiency.
It collects data and uses more than 50 AI agents to support automation across procurement tasks. Independent agents perform procurement work on their own, while collaborative agents support human decision-making.
The company said Procure AI agents shorten procurement time by about 40 percent and cut per-item costs by 3.7 percent to 5.2 percent.
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Chikyoo Hwang
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