Didero Secures $30M to Revolutionize Manufacturing Procurement with AI Automation
In the complex world of manufacturing procurement, the challenges of sourcing suppliers, negotiating prices, tracking orders, and managing payments can be overwhelming. Tim Spencer, while leading Markai, an e-commerce startup in Asia during the pandemic, experienced these difficulties firsthand. His team grappled with the manual intricacies of coordinating with thousands of suppliers across numerous countries, leading to inefficiencies and operational bottlenecks.
Recognizing the potential of generative AI to streamline these processes, Spencer sold Markai in 2023 and co-founded Didero later that year with Lorenz Pallhuber, a seasoned expert from McKinsey’s procurement practice, and Tom Petit, the former technical co-founder of Landis. Their mission: to automate the multifaceted realm of global procurement.
Didero recently announced a significant milestone—a $30 million Series A funding round co-led by Chemistry and Headline, with participation from Microsoft’s venture fund, M12. This investment underscores the industry’s confidence in Didero’s vision to transform procurement through AI-driven solutions.
At the heart of Didero’s platform is the understanding that global trade heavily relies on natural language communications, including emails, WeChat messages, phone calls, purchase orders, and packing lists. Traditionally, these fragmented communications required human intervention to track and update systems manually. Didero’s AI platform ingests this diverse communication, automating substantial portions of the procurement workflow and reducing the need for manual oversight.
Functioning as an agentic AI layer atop a company’s existing Enterprise Resource Planning (ERP) system, Didero acts as a coordinator. It reads incoming communications and autonomously executes necessary updates and tasks, aiming to transition from the initial need for goods to payment without manual intervention.
While other platforms like Levelpath, Zip, and Oro Labs utilize AI to streamline corporate purchasing, Didero differentiates itself by focusing specifically on the supply chain. Its platform is tailored for manufacturers and distributors who need to source raw materials and inputs essential for their products.
Although there are smaller competitors like Cavela and Pietra that assist brands in sourcing and negotiating with manufacturers, these companies primarily serve small to medium-sized enterprises and do not encompass the entire procurement process from initial quotation to final payment. Didero’s comprehensive approach positions it uniquely in the market.
Currently, Didero boasts a growing clientele, including Footprint, a provider of sustainable, plant-based packaging. This partnership highlights Didero’s capability to cater to companies committed to sustainability and innovation.
The $30 million funding will enable Didero to enhance its platform further, expand its customer base, and continue its mission to revolutionize manufacturing procurement through AI automation. As the manufacturing industry increasingly embraces digital transformation, Didero’s solutions offer a promising avenue for companies seeking efficiency and scalability in their procurement processes.
