Nvelop Secures €1.2 Million Seed Round to Revolutionize Enterprise Procurement with Agentic AI

Helsinki, 18.6.2025 – Nvelop, a Helsinki-based pioneer in agentic sourcing, today announced it has closed a €1.2 million seed funding round. The round was led by Failup Ventures, with continued participation from existing investor Antler. The capital will be used to advance Nvelop’s mission of reinventing enterprise procurement through agentic AI—turning slow, manual sourcing processes into real-time strategic capabilities.

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.”

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 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.

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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About Nvelop

Nvelop is an innovator in AI-powered procurement that accelerates sourcing processes while reducing costs and ensuring compliance. The company's agentic AI platform increases sourcing impact by delivering highly tailored solutions with strong organizational alignment and stakeholder buy-in. The solution supports end-to-end sourcing processes across multiple categories, including solution exploration, requirements gathering, RFP generation, proposal evaluation, and contracting. Nvelop was founded in 2024 by Mikko Valorinta, Nithin Nadagouda, and Ilkka Uuhiniemi, bringing together deep experience in management, IT, and large-scale deals. For more information, visit nvelop.ai.

About Failup Ventures

Failup Ventures is a Finnish-American venture capital fund based in San Francisco and Helsinki. Established by former startup founders and seasoned angel investors, the firm supports game-changing software startups from pre-seed to follow-on rounds.

About Antler

Antler is the most active early-stage investor globally. Antler systematically removes capital and network constraints for early-stage technology entrepreneurs by providing co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. The firm is present in 27 cities across most leading technology ecosystems globally and has made over 1,500 investments into early-stage startups.