Nvelop, a Helsinki-based innovator in agentic sourcing, today announced it has closed a €1.2 million Seed funding round to develop enterprise procurement through agentic AI – turning manual sourcing processes into real-time strategic capabilities.
The round was led by Failup Ventures, with continued participation from existing investor Antler.
“Securing this funding in today’s market environment reinforces the strength of our team, our technology, and our long-term vision,” said Mikko Valorinta, CEO of Nvelop. “This backing allows us to double down on innovation and stay laser-focused on creating real value for our customers.”
Founded in 2024 by Mikko Valorinta, Nithin Nadagouda, and Ilkka Uuhiniemi, Nvelop is an innovator in AI-powered procurement that accelerates sourcing processes while reducing costs and ensuring compliance. The company’s agentic AI platform alleges to increase sourcing impact by delivering highly tailored solutions with strong organisational alignment and stakeholder buy-in.
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.
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.”
Rather than treating AI as an add-on, Nvelop says they have 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.
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 global procurement software market expected to exceed €10 billion in the coming years, Nvelop is positioning themselves to capture a significant share.
Its platform reportedly delivers faster sourcing, cost savings, regulatory assurance, and better business outcomes through enhanced solution fit and stakeholder alignment.
With the new funding, Nvelop plans to accelerate product development, expand its engineering team, and scale its go-to-market efforts.
Read the orginal article: https://www.eu-startups.com/2025/06/finnish-startup-nvelop-secures-e1-2-million-to-innovate-enterprise-procurement-with-agentic-ai/
