Bendi Software secures £815K seed funding for AI-powered data intelligence software

Birmingham-based Bendi Software has raised £815,000 in seed funding to advance its AI-powered data intelligence software, Prism, which helps businesses identify and manage environmental, social, and governance (ESG) risks embedded within complex global supply chains.

Bendi’s Prism software addresses a pressing challenge for companies, particularly large retailers with extensive and multi-tiered supply chains. Hidden ESG risks, such as forced labour, health and safety violations, and environmental non-compliance, can be difficult to detect. Prism analyses vast amounts of data to map an organisation’s entire supply chain network, identifying potential ESG risks at specific locations and suppliers. The platform also provides real-time risk alerts, enabling businesses to proactively manage and mitigate issues.

The seed funding round was led by the West Midlands Co-Investment Fund (WMCO), with a £230,000 investment from Midven, part of Future Planet Capital, alongside additional contributions from other investors.

Richard Parker, Mayor of the West Midlands and chair of the West Midlands Combined Authority, said: “I am pleased to see a unique West Midlands-based business that is focused on an industry of the future secure this investment. This is the sort of venture the West Midlands Co-Investment Fund was set up for. Large retailers are under pressure to improve their corporate social responsibility. Bendi has created a useful tool to detect malpractices and help companies deliver sustainable practices, improve community cohesion, and minimise carbon footprints.”

Mandeep Soor, CEO and co-founder of Bendi, commented: “This funding will be instrumental in supporting the development of our Prism software and enabling us to expand our team, enhance our product offering, and explore new market opportunities. We are confident that Prism has the potential to revolutionise the way businesses approach data intelligence, and we are excited to take the next step on our journey with the support of the WMCO.”