Hamburg-based supply chain technology company Procuros has raised €20 million in a Series A funding round. The company provides a platform that helps businesses connect their supply chain systems and exchange data more easily.
The round was led by XAnge, a European venture capital firm based in Paris and Berlin that manages around €600 million in assets and is part of the Siparex Group. W23 joined the round as a new investor. Existing investors Point Nine, Creandum, and b2venture also took part, along with several angel investors.
The latest funding follows Procuros’ earlier fundraising rounds. The company raised €1 million in pre-Seed funding in 2021 and €8.3 million in Seed funding in 2022. The new Series A investment will help Procuros continue developing its supply chain connectivity platform and expand its business.
“AI is advancing at incredible speed, while supply chains still run on infrastructure built decades ago. Operations teams are forced to bridge these gaps between systems that simply don’t communicate. We built Procuros to change that. Our infrastructure gives retailers, suppliers and AI agents the connectivity and trusted data they need to automate trade and make autonomous supply chains possible. Because ultimately, AI agents are only as good as the infrastructure they run on,” said Thelen, CEO and co-founder of Procuros.
Procuros will use the new funding to grow its sales and marketing operations and further develop its AI-powered supply chain infrastructure. The company wants to make its platform more advanced and easier for businesses to use.
The company also plans to expand internationally. Procuros currently operates mainly in the DACH region and the UK, and will use the new funding to enter more European markets and the United States.
“Procuros is showing that AI agents can make autonomous B2B trade a reality today. The team has built the infrastructure AI agents need to work across entire trading networks and proven the model at scale in DACH. What excites us is the opportunity ahead: to take this beyond its home market and establish an entirely new category for global B2B trade,” said Valerie Bures-Bönström, Partner and Managing Director DACH at XAnge.
Procuros was founded in 2021 by Patrick Thelen and Benjamin Bradford. The Hamburg-based company provides a platform that helps suppliers and retailers connect and exchange business data. Businesses only need to connect to Procuros once, after which they can share data with different trading partners, even when those partners use different systems or formats.
For suppliers, Procuros helps automate important processes such as orders, shipping updates, invoices, and logistics. The information can flow directly into a company’s ERP system, reducing the need for manual data entry.
For retailers, the platform provides digital tools for EDI connections, e-invoicing, and automatic invoice matching. Procuros says its platform achieves more than 99% data accuracy and can reduce manual processing by up to 95%.
