Elevatry Raises €3M for AI Procurement Agents

Elevatry has raised €3 million to build AI agents for procurement workflows including sourcing, supplier selection, cost analysis and contract preparation.

What happened

The Munich-based company raised a pre-seed round from Bayern Kapital, procurement consultancy H&Z and angel investors. Its platform uses specialised agents for tasks across procurement, including sourcing strategy, supplier analysis, negotiation preparation, contract workflows and supplier-risk assessment. Customers can set different autonomy levels and retain approval control. The product went live in late September, meaning adoption and return-on-investment data remain limited. The company is targeting a function where small process improvements can have direct financial impact because procurement teams influence large amounts of company spending.

Why it matters

Procurement combines repetitive analysis with high-value decisions, making it a natural area for agentic software. Automating supplier research and preparation could extend strategic purchasing techniques to categories that currently receive little specialist attention.

The bigger picture

The company is extremely early, and meaningful customer evidence is still limited. Its long-term position will depend on integration with procurement systems, data quality and whether teams trust agents around supplier negotiations and contracts.