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AI-native enterprise procurement platform Aerchain has raised USD 13 million (INR 118 crore) in a Series A funding round led by Pavestone VC with participation from IndiaMART and other investors. The Bengaluru-based startup had earlier secured USD 3 million in a pre-Series A round in September 2021, co-led by IndiaMART and Season Two Ventures.
The firm said the latest funding will be used to support its global expansion plans and to strengthen its artificial intelligence capabilities. It is currently developing a “Spend Operating System” aimed at improving enterprise procurement processes.
Founded in 2021 by Harsha Kadimisetty and Himavanth Jasti, Aerchain focuses on automating procurement workflows across the intake-to-pay lifecycle. Its platform includes tools for vendor discovery, sourcing, contract management, invoice processing and payment tracking, all supported by AI-based systems.
According to the company, many procurement teams still rely on manual methods such as emails, spreadsheets and legacy enterprise resource planning systems, which can slow down operations. Aerchain’s platform aims to reduce such inefficiencies by automating routine tasks and streamlining workflows.
The system also uses data analysis to provide insights into spending patterns, market trends and supplier performance. This allows organisations to make quicker and more informed decisions. Aerchain claims that its platform can significantly reduce procurement cycle times and improve operational efficiency. It also uses AI-driven tools to assist with analysis, benchmarking and negotiation processes.
The company said it currently serves more than 50 enterprise customers across over 30 countries and manages procurement spend of around USD 45 billion.
Aerchain is supported by Veda Corp Advisors and plans to expand its international presence following the new investment round.
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