Hamburg-based startup Procuros has raised €20 million in a Series A funding round led by XAnge. The company intends to use the capital to scale sales, develop its AI supply chain infrastructure, and expand its operations into the US and further across Europe.
Founded in 2021 by Patrick Thelen and Benjamin Bradford, the company provides a platform that connects businesses to a single network for exchanging trade data. This approach aims to replace traditional EDI systems, which often require individual integrations for every new partner.
Currently, more than 300 businesses in the UK and the DACH region use the platform, including companies like Breuninger, KoRo, and flaconi. The startup reports that over €3 billion in annualised order volume is processed through its network.
New investor W23 Global, a fund backed by retailers such as Tesco and Woolworths Group, joined the round. Existing investors, including Point Nine, Creandum, b2venture, and SquareOne, also participated in the financing.
