London-based AI startup Intropy has raised $11 million in a seed funding round led by Felix Capital, with participation from Quiet Capital and existing investors General Catalyst and firstminute capital.
- Founded in 2024 by former Tractable researchers YihKai Teh and Franziska Kirschner, Intropy develops an AI-native operating system for the spare parts industry. Its platform helps distributors, manufacturers, and recyclers automate inventory management, pricing, and other operational decisions, replacing manual processes, spreadsheets, and legacy software.
- Unlike traditional software that provides recommendations for employees to review, Intropy's AI integrates directly with customers' enterprise resource planning (ERP) systems to automate decisions using both structured and unstructured data. The platform continuously updates decisions as market conditions change, enabling businesses to move from periodic reviews to real-time optimisation.
- Since its launch, Intropy reports its technology has processed more than $10 billion in spare parts demand. The company estimates that more than $4 billion worth of automotive spare parts alone are traded every day, highlighting the scale of the market it is targeting.
Details of the deal
- The newly raised funding will enable Intropy to accelerate product development, expand its team, strengthen its AI capabilities, and establish a New York office as it grows its presence in the US market.
"Every machine made from multiple components will eventually need spare parts, whether it is a car on the road today, an autonomous vehicle of tomorrow or a robot supporting humanity on Mars. We're building the intelligence layer that understands the extraordinary complexity of spare parts: what fits, how it performs and when it is needed, so parts businesses can make better decisions," explains YihKai Teh, co-founder and CTO of Intropy.
