Magentic
Latest round
- Series A
Last raised
- Sep 2026
Total raised
- $23M
Investors
- 6
About Magentic
Founded in 2024, Nasir AI Incorporated doing business as Magentic, specializes in AI-driven procurement and supply chain solutions. Founded in London, UK, the company has undergone strategic developments to enhance its offerings. The company was co-founded by Robin Van Aeken (CEO) and Odhran O'Donoghue (CTO). Magentic offers a sophisticated AI-driven platform designed to enhance efficiency and savings in procurement and supply chain processes. Their core product, powered by AI agents known as "Mages," assists global manufacturers and producers in optimizing workflows that traditionally involve extensive manual effort. The Mages are integrated into existing company systems, allowing them to manage supplier communications, process invoices, and identify compliance issues within contracts. This end-to-end solution primarily targets large-scale manufacturers across various sectors, including those generating over USD 50 billion in revenue. Geographically, Magentic serves clients in North America and Europe, catering to a diverse clientele that includes Fortune 500 companies and advanced manufacturers. Magentic operates on a no-cure-no-pay pricing model, which aligns their financial success with the value delivered to clients. Revenue is generated through B2B transactions, where clients engage the company for its AI agent services that streamline procurement efforts. The transaction structure typically involves partnerships with large manufacturers, who leverage the Mages to improve their operational efficiencies. As clients witness measurable improvements in areas such as supplier negotiations and compliance management, payments are made based on the realized savings. This performance-based approach enhances client retention and fosters long-term relationships, as companies are incentivized to continue utilizing Magentic’s services for ongoing operational improvements.
Who invested in Magentic
6 investors across 3 rounds
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Questions about Magentic
Who invested in Magentic?
Magentic has 6 investors on record across 3 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Magentic raised?
Magentic has raised 3 venture rounds. Sign up free to see how much each round raised and the total.
When did Magentic last raise money?
Magentic's most recent round on record is a Series A, in Sep 2026.
What does Magentic do?
Founded in 2024, Nasir AI Incorporated doing business as Magentic, specializes in AI-driven procurement and supply chain solutions.
Where is Magentic headquartered?
Magentic is headquartered in New York, US.
Which VCs invest in companies like Magentic?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at Magentic's stage. Their profiles are linked below.
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