Agentic AI enters procurement
Aerchain raised $13 million to scale an agentic AI procurement platform that automates sourcing and vendor management — a sign procurement teams are seeking AI tools to turn buying into a business driver. Universities may adopt similar tools to optimize compliance tracking and purchasing decisions. (inc42.com)
The Series A was led by Pavestone VC with participation from IndiaMART and other investors, announced March 18, 2026. (cnbctv18.com) Co‑founders Harsha Kadimisetty (CEO) and Himavanth Jasti (CTO) head the Bengaluru‑based team behind the platform. (cnbctv18.com) Aerchain says the new capital will accelerate global expansion and bolster its AI stack as it builds a so‑called “Spend Operating System” that covers the full intake‑to‑pay lifecycle. (cnbctv18.com) The product runs a multi‑agent architecture with named agents — Intake, Evaluation, Negotiation, Contract, Analytics — and the company publicizes automation claims such as handling ~80% of operational procurement work and shrinking multiday processes to hours. (aerchain.io) Independent coverage reports Aerchain has signed dozens of enterprise customers across 30+ countries and manages what the company states is billions in customer spend, with one article citing roughly 50 customers and $45 billion in spend under management plus >50% cycle‑time reductions. (entrackr.com) Aerchain’s funding history includes a pre‑Series A round in September 2021 of about $3 million that was co‑led by IndiaMART and Season Two Ventures. (entrackr.com)
