Gain, a Tel Aviv-based startup offering AI-powered procurement automation, has raised US$12 million in seed funding from investors including Singapore’s BlueRed Partners, The Garage, and Bazan Group.

Its technology automates procurement workflows for industries such as energy, chemicals, consumer goods, and retail, managing tasks from strategy and negotiations to contract execution and exception handling.

Pilots of Gain’s AI “employees” are underway with Bazan Group and Tempo Beer Industries.

The startup is led by CEO Michael Gabay, who previously founded retail automation firm Trigo.

Gain said the new capital will be used to develop additional AI agents and expand its operations in the US and Europe.

BlueRed Partners is a Singapore-based venture fund investing in early- and growth-stage startups from Israel and Southeast Asia.

🔗 Source: BlueRed Partners