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Magentic raises $18 million in Series A funding to develop AI agents for automating industrial procurement and operations

Funding Provisional 90% confidence first seen

Magentic, a London startup, raised $18 million in Series A funding to build multi-agent AI systems for diagnosing, planning, and acting across industrial procurement and supply-chain workflows. The round was led by Felicis and includes investors such as Sequoia Capital and The Westly Group, with plans to expand to more procurement workflows and invest in longer-term AI research for complex optimization.

Magentic Felicis Odhran O’Donoghue Robin Van Aeken Sequoia Capital The Westly Group University of Oxford

The deal

Magentic $18 million Series A · announced 17 Sep 2026

Investors Sequoia Capital Felicis The Westly Group

Deal terms as reported in the coverage below.

Source coverage

Magentic raises $18M to automate industrial operations with AI agents Tech.eu independent London’s Magentic raises $18M to build AI agents that diagnose, plan, and act across terabytes of procurement data Tech Funding News independent

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