Home / Business and Economy / AI Startup Secures $75M for Supply Chain Automation
AI Startup Secures $75M for Supply Chain Automation
29 Jul
Summary
- Freehand raised $75 million in a funding round.
- The startup's AI agents automate procurement and supplier management.
- Major companies like Meta and Pfizer are among Freehand's clients.
AI startup Freehand has successfully raised $75 million in a significant funding round. This investment was co-led by Battery Ventures and NewRoad Capital Partners, with participation from existing investor Nexus Venture Partners and other notable investors.
Founded by Indian entrepreneurs Nitin Jayakrishnan and Abhijeet Manohar, the San Francisco-based company has operated in stealth for two years. Freehand specializes in creating autonomous AI agents.
These AI agents are designed to automate complex enterprise supply chain workflows. Specifically, they handle tasks such as procurement, supplier management, invoice processing, and payment processes.
Freehand's impressive client roster includes industry giants like Meta, Unilever, Johnson & Johnson, Pfizer, Dunkin', and Cardinal Health. The fresh capital will be deployed to enhance the deployment of its AI agents.
