Procuros Raises €20M to Automate B2B Trade
Procuros raised €20M Series A led by XAnge to automate B2B trade with AI agents across global supply chains.
The big picture: Hamburg-based Procuros, a startup automating B2B trade, raised a €20 million Series A round led by XAnge, with W23 Global joining as a new investor. The company aims to expand its network across Europe and into the US.
Why it matters:
- Outdated Infrastructure: Much of B2B trade still relies on legacy systems, with orders and invoices often exchanged via PDFs, spreadsheets, or faxes, leading to slow and costly integration projects.
- AI Agent Enabler: Procuros positions itself as the critical data layer that AI agents need to automate complex supply chain workflows, moving beyond fragmented electronic data interchange (EDI) connections.
- Massive Market: The global B2B e-commerce market, valued at $19.34 trillion in 2024, is projected to reach $47.54 trillion by 2030, highlighting a significant opportunity for automation.
How it works:
- Single Connection: Procuros allows companies to connect once to its network and then exchange data with any trading partner, regardless of their existing systems or technical capabilities.
- Data Harmonization: The platform validates and harmonizes data between parties, eliminating the need for individual point-to-point integrations that typically take months to complete.
- AI-Ready Data: By creating a reliable and contextual data layer, Procuros provides the essential infrastructure for AI agents to automate transactions and manage exceptions across entire supply chains.
The catch: The market for AI in procurement and supply chains is increasingly crowded, with numerous startups like Freehand, Magentic, Atomic, and Didero directly deploying AI agents to handle specific tasks. Procuros differentiates itself by building the foundational connectivity layer beneath these agents, which could either make it an indispensable utility or a less visible player in a market focused on direct automation solutions.
Key Facts
- Company: Procuros
- Amount: €20M
- Round: Series A
- Investors: XAnge (lead), W23 Global, Point Nine, Creandum, b2venture, SquareOne
- Founders: Patrick Thelen, Benjamin Bradford
- Sector: B2B Trade Automation
- Headquarters: Hamburg, Germany
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