Bendi funding news – London-based Bendi Secures €960k in Pre-Seed Funding

Investor of the round

The funding round was led by Birmingham-based VC Midven, part of the global Future Planet Capital fund, with contributions from Heartfelt Capital in Berlin, Chasing Rainbows in San Francisco, as well as angel investors and Innovate UK.

Founded in 2020, Bendi tackles supply chain risks with its main product, Prism. This platform automates the mapping of supply chains and assesses ESG (Environmental, Social, and Governance) risks.

Prism uses AI to identify and analyze over 100 risk indicators—like human rights violations and environmental issues—in real-time, drawing from multiple data sources in more than 35 languages. This helps businesses quickly uncover risks that might be hidden deep in their supply chains.

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Traditionally managing supply chain risks has been a slow and manual process involving questionnaires and audits. These methods often depend on suppliers' cooperation and can miss issues in deeper supply chain tiers.

Bendi Technology

Bendi’s technology is timely, especially with new laws like the EU’s Corporate Sustainability Due Diligence Directive and the US Uyghur Forced Labor Prevention Act. These regulations require companies to provide detailed proof of sustainable practices in their supply chains.

The company was co-founded by CEO Mandeep Soor, who has experience with the Boston Consulting Group; Chief Research Officer Benjamin Norsworthy, who has over 15 years in sustainability; and CTO Olivier Bacs, who has developed software for various firms.

Norsworthy added: “Having experienced the challenges of managing complex supply chains in the fashion industry firsthand I saw the need for a solution that could provide both deep visibility and actionable insights. Bendi is helping companies not only understand their supply chains but also actively manage risks related to them. This funding will allow us to further enhance our platform, expand our team and extend our capabilities across more industries and more markets.”

Ruper Lyle, Director at Midven, added: “Bendi’s approach to supply chain transparency and risk management is critical in today’s complex and ever-changing regulatory landscape. With global legislation tightening around sustainability and responsible sourcing, Bendi is well-positioned to lead the market. We’re incredibly excited to partner with a team with such huge commercial potential that is simultaneously driving such positive change across so many industries.”

About Bendi

Bendi's Prism solutions help companies monitor their suppliers find new trade connections, identify risks, and take action when issues arise.