Magentic has raised an $18 million Series A led by Felicis, with existing investors Sequoia Capital and The Westly Group.
Magentic sells AI agents that pick suppliers, negotiate contracts, place orders and clear invoices for large manufacturers, across both raw materials and indirect spend. The agents work inside Microsoft Teams, email and a customer’s own systems, handling the back-and-forth of a purchase from request to payment. Magentic says people stay in command of the decisions.
The London and New York startup was founded by CEO Robin Van Aeken and CTO Odhran O’Donoghue in July 2025.
One customer runs more than a million orders a year through the system. Another found $4 million in savings. Across its customers, Magentic reports savings of 2% to 5%, a 60% improvement in data quality, and tens of thousands of hours of manual work removed.
Magentic’s customers are Global 500 manufacturers, including three of the world's 10 largest beverage companies, tech.eu reported. It has not named any of them. The company pitches itself to industrial and procurement teams facing heavier workloads from manufacturing demand, trade disruption and tighter budgets.
The new money will extend Magentic’s agents across more procurement and supply chain workflows and fund its research into AI systems for complex industrial optimization problems.
