Borusan Ventures invests in Magentic, a company transforming procurement and supply chain processes through AI agents

Borusan Ventures, the corporate venture capital arm of the Borusan Group, has participated in an $18 million Series A funding round for Magentic, a developer of AI agents designed for procurement and supply chain operations.

Borusan Ventures continues its strategy of investing in technology startups that operate at the intersection of artificial intelligence and the physical world. The $18 million Series A round for Magentic was led by Felicis, with participation from Borusan Ventures as well as existing investors Sequoia Capital and The Westly Group.
Defne Kocabıyık Narter: “We believe in the potential of artificial intelligence to transform operations in the physical world.”

Defne Kocabıyık Narter, Founder and President of Borusan Ventures, commented on the investment as follows: “As investments in artificial intelligence gain momentum, we see the impact of this technology extending beyond the digital realm and into the operations of the physical economy. At a time when global supply chains are becoming increasingly complex and procurement teams are tasked with managing growing workloads with limited resources, we believe that artificial intelligence will play a significant role in these processes.”

Robin Van Aeken, Co-founder and CEO of Magentic, stated: “As the physical world undergoes the largest capital investment cycle in history driven by the demand for artificial intelligence, it simultaneously faces disruptions in global trade and geopolitical challenges. Companies that integrate the most powerful intelligence into every decision they make will be the ones that exponentially increase their competitive advantage over time.”

Silicon Valley-based Borusan Ventures invests in early-stage startups across the U.S. and Europe within sectors such as energy, mobility, logistics, supply chain, and industrial technologies. Leveraging the Borusan Group’s 82 years of industrial experience, Borusan Ventures provides strategic support to startups with the potential for global success and long-term impact, while creating growth opportunities by facilitating access to new markets.

Artificial intelligence agents operate within existing workflows

Multi-agent systems developed by Magentic work integrated with companies' e-mail, Microsoft Teams, as well as other existing systems and workflows. These agents; It can undertake complex operational tasks end-to-end, from supplier selection to contract negotiations, from order management to invoicing processes.

Magentic focuses specifically on global companies with high procurement volumes, large datasets, and complex operations spanning various systems. By leveraging AI agents to take on operational tasks, the company aims to reduce the manual workload for teams, accelerate decision-making processes, and drive efficiency in procurement operations.

Magentic's solutions can be used both in direct raw material purchasing and indirect purchasing processes. Particularly in the production sector, high-volume raw material purchases require large numbers of orders and simultaneous management of data from different systems. Magentic's artificial intelligence agents can manage all of these processes: In one of the company's customers, more than a million orders are carried out annually through artificial intelligence agents, and in another customer, a savings opportunity of 4 million dollars was detected due to the use of agents. The company aims to deliver savings of 2 to 5 percent across its Global 500 customer base, achieve a 60 percent improvement in data quality, and eliminate tens of thousands of hours of manual workload.

With the new investment, Magentic plans to accelerate its product roadmap for artificial intelligence agents, expand its areas of use in purchasing and supply chain processes, and deepen its long-term research on artificial intelligence systems that can solve complex optimization problems.