Mithra AI

THE PROBLEM

Enterprises have plenty of procurement data, but it is usually fragmented across ERPs, supplier aliases and inconsistent taxonomies. Teams can spend weeks cleaning spreadsheets before they can identify savings, and AI layered onto unreliable data only produces unreliable answers.

THE APPROACH

Mithra builds the procurement intelligence layer underneath those tools. Its agents classify transactions, normalize suppliers, harmonize taxonomies and materials, and keep the resulting foundation governed over time. Opportunity agents then surface supplier consolidation, purchase-price variance, contract leakage and off-contract buying. Atlas, its procurement copilot, lets users query the governed data and create reports or category strategies. The key distinction is that Mithra fixes and maintains the data foundation rather than adding another dashboard on top of it.

WHY THIS TEAM

• Founded by Arash Saberi, Christophe Frère, Rasa Raoufi and Dennis van den Brand; public-facing leadership centers on co-founders Raoufi and Saberi.
• Raoufi brings more than a decade of international procurement and supply-chain experience across MedTech, pharma and manufacturing.
• Saberi adds technical depth through computer-science research and earlier data and AI-safety work at TomTom and Dutch research organization TNO.
• Firsthand procurement knowledge paired with applied-AI capability — particularly credible for a data-heavy enterprise product.

MOMENTUM

• Raised a new seed round and now lists 42CAP, Sequoia Scout Fund and Plug and Play among its backers; the amount has not been publicly disclosed.
• Previously received a €300,000 convertible loan from Innovatiefonds Noord-Holland in January 2023 and was selected for Spend Matters’ 2023 Future 5.
• Names customers including SPAR, Bertelsmann, Franke and Compass.
• In a company-published case study, Compass says Mithra unified data across four acquired businesses and helped create a $10 million savings pipeline.