Finnish Nvelop secures €1.2M seed funding to revolutionize procurement with AI

Nvelop, a Helsinki-based pioneer in agentic sourcing, announced it has closed a €1.2 million seed funding round. The round was led by Failup Ventures, with continued participation from existing investor Antler. 

About Nvelop

• Nvelop, founded in 2024 by Mikko Valorinta, Nithin Nadagouda, and Ilkka Uuhiniemi, specializes in AI-powered procurement that accelerates sourcing processes while reducing costs and ensuring compliance.

• The company’s agentic AI platform increases sourcing impact by delivering highly tailored solutions with strong organizational alignment and stakeholder buy-in. 

• The solution supports end-to-end sourcing processes across multiple categories, including solution exploration, requirements gathering, RFP generation, proposal evaluation, and contracting.

“Procurement processes are multi-faceted, tedious and ultimately painful. Nvelop’s ground-up agentic approach will surely be welcomed by procurement professionals worldwide. We’ve worked with the team since day zero and been impressed by their speed and high quality of execution,” says Jussi Kallasvuo, Partner at Antler.

Investment details

The round was led by Failup Ventures, with continued participation from existing investor Antler.

• Failup Ventures is a Finnish-American early-stage venture capital firm based in Helsinki and New York. It focuses on mission-driven startups at the pre-seed and seed stages. With an investment capacity ranging from €200,000 to €1 million, the firm targets sectors like the Future of Work, Digital Infrastructure, and Commercial Climate Tech.

• Antler is a global early-stage venture capital firm with headquarters in Singapore. Operating in over 30 cities worldwide, Antler invests seed funding ranging from $100,000 to $190,000 in exchange for 10–12% equity. The firm focused on AI, fintech, healthtech, and sustainability, with notable investments in Airalo and Wrtn.

The capital will be used to advance Nvelop’s mission of reinventing enterprise procurement through agentic AI turning slow, manual sourcing processes into real-time strategic capabilities.