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Magentic raises $18M in Series A funding led by Felicis to automate industrial operations with AI agents.

PRIVATESep 17, 2026•about 3 hours ago

Amount Raised

$18 Million

Round Type

Series A

New YorkSoftwareArtificial Intelligence

Investors

The Westly GroupSequoia CapitalFelicis

Description

Magentic has successfully raised $18 million in Series A funding to enhance its AI-powered digital workers for industrial companies. Led by Felicis, this round includes participation from existing investors Sequoia Capital and The Westly Group. The funding aims to improve procurement and operational workflows for large manufacturers. The company’s agents are designed to streamline processes while handling complex manufacturing demands.

Company Information

Company

Magentic

Location

New York, New York, United States

About

Magentic is an AI agent platform that identifies savings across global manufacturing supply chains. It integrates ready-to-use AI agents tailored for procurement and supply chain operations, aimed at uncovering and capturing savings in complex environments. The company serves various industries including consumer packaged goods, pharmaceuticals, and advanced manufacturing. Its technology allows companies to improve outcomes for their suppliers and customers while keeping human expertise at the forefront.

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Funding Insights

Based on industry data
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months
Monthly burn rate benchmark
47% of Series A startups spend $400k or more per month on operations
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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