Bendi Secures £800k for Supply Chain AI Platform
Deal News | Oct 31, 2024 | Business Cloud
Bendi, a cutting-edge AI-driven platform focused on supply chain risk management, has successfully raised £800,000 in pre-seed funding. The funding round was primarily led by Birmingham-based venture capital firm Midven, a part of the Future Planet Capital fund, and saw participation from Heartfelt Capital in Berlin, Chasing Rainbows in San Francisco, alongside angel investors and Innovate UK. Bendi, founded in 2020, offers its flagship platform, Prism, which harnesses AI to automate supply chain mapping and ESG risk assessments. The platform provides real-time analysis, identifying over 100 risk indicators including human rights abuses and environmental hazards, in multiple languages across global data sources. The platform aims to offer businesses the capacity to proactively manage supply chain challenges and ensure sustainability, a necessary measure in today's evolving regulatory environment. Bendi was co-founded by Mandeep Soor, who brings experience from top-tier firms such as BCG and British Business Bank, and emphasizes the need for transparency and resilience in complex global supply chains. The newly secured funds will bolster Bendi's platform, allowing for expansion and capability enhancement across industries and markets. With tightening global sustainability laws and increased need for responsible sourcing, Bendi's proposition is timely, making it a vital player in modern supply chain management.
Sectors
- Supply Chain Management
- Artificial Intelligence
- Venture Capital
Geography
- United Kingdom – Bendi is based in the UK and the funding round was led by a Birmingham-based VC, highlighting significant activity in the UK's tech and investment sectors.
- Germany – Heartfelt Capital, a participant in the funding round, is based in Berlin, Germany, indicating cross-border investment activity.
- United States – Chasing Rainbows from San Francisco also participated in the funding round, indicating international interest in Bendi's platform.
Industry
- Supply Chain Management – The focus on managing and optimizing supply chains through AI-driven solutions to address complexities, risks, and sustainability challenges.
- Artificial Intelligence – Utilizing AI for real-time analysis and risk assessment in supply chain operations, providing innovative solutions for transparent and resilient networks.
- Venture Capital – Part of the venture capital investment landscape, as indicated by the involvement of venture firms like Midven.
Financials
- £800,000 – Pre-seed funding amount raised by Bendi to enhance its AI-driven supply chain risk management platform.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bendi | Target Company | Company | AI-driven platform focused on supply chain risk management and sustainability. |
| Midven | Leading Investor | Company | Birmingham-based venture capital firm and part of the Future Planet Capital fund. |
| Heartfelt Capital | Investor | Company | Berlin-based venture capital firm participating in Bendi's funding round. |
| Chasing Rainbows | Investor | Company | San Francisco-based venture participant in the funding round. |
| Innovate UK | Investor | Company | UK-based agency that supports businesses in driving innovation. |
| Mandeep Soor | CEO and Co-founder | Person | Co-founder of Bendi, with a background in strategy and consulting. |
| Benjamin Norsworthy | Chief Research Officer and Co-founder | Person | Co-founder with extensive experience in sustainability in the fashion sector. |
| Olivier Bacs | CTO and Co-founder | Person | Enterprise-grade software developer and co-founder of Bendi. |
| Ruper Lyle | Director | Person | Director at Midven, commenting on the strategic importance of Bendi. |