Helsinki-based startup Nvelop has raised €1.2 million in a seed funding round led by Failup Ventures, with continued participation from Antler. The company develops an AI-native platform designed to automate and streamline enterprise procurement processes. Its system supports the full sourcing lifecycle, from drafting requirements and generating RFPs to evaluating proposals and managing contracts. With the new funding, Nvelop plans to expand its engineering team, continue product development, and strengthen its go-to-market strategy.
Nvelop’s agentic AI platform delivers measurable business value by accelerating sourcing cycles, reducing client spending, and ensuring comprehensive compliance. The AI-native system supports the entire sourcing lifecycle—from capturing requirements and generating RFPs to evaluating proposals, facilitating negotiations, and managing contracts. All of this takes place within a single, auditable workspace designed for alignment and stakeholder engagement.
“Securing this funding in today’s market environment reinforces the strength of our team, our technology, and our long-term vision,” said Mikko Valorinta, Chief Executive Officer of Nvelop. “This backing allows us to double down on innovation and stay laser-focused on creating real value for our customers.”
The investment signals strong confidence in Nvelop’s unique approach. Rather than treating AI as an add-on, Nvelop has reimagined the sourcing process from the ground up—with agentic AI at its core. Its intuitive workflows amplify human decision-making, leveraging AI for key insights and automating compliance-heavy tasks. With a chat-first interface, Nvelop enables teams to run complex sourcing processes with unmatched simplicity.
Oscar Andersin, General Partner at Failup Ventures, commented: “From our first conversations, we were impressed by Nvelop’s sharp vision and exceptional team. They’re not just adding AI to existing workflows—they’re rethinking procurement from scratch. We’re proud to support a company combining deep customer focus with bold technological ambition.”
With the global procurement software market expected to exceed €10 billion in the coming years, Nvelop is well-positioned to capture a significant share. Its platform delivers faster sourcing, cost savings, regulatory assurance, and better business outcomes through enhanced solution fit and stakeholder alignment.
Jussi Kallasvuo, Partner at Antler, added: “Procurement processes are multi-faceted, tedious and ultimately painful. Nvelop’s ground-up agentic approach will surely be welcomed by procurement professionals worldwide. We’ve worked with team since day zero and been impressed by their speed and high quality of execution.”
With the new funding, Nvelop plans to accelerate product development, expand its engineering team, and scale its go-to-market efforts.
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Read the orginal article: https://arcticstartup.com/nvelop-raises-e1-2m-seed/
