AIgement, developer of the automated procurement solution “Allmighty” for manufacturing procurement teams, announced on the 14th that it has secured a seed investment from early-stage VC firm TheVentures.

AIgement’s solution Allmighty automates the most time-consuming procurement tasks — including month-end closing, purchase ordering, and RFQ generation — while also providing capabilities to reduce purchasing costs. CEO Shin-Hyuk Cho conceived the solution during his time at consulting firm NEMO Partners, where he identified common procurement challenges across client companies.

The investment lead at TheVentures commented, “Allmighty provides cost-reduction strategies for companies at a price significantly lower than external consulting, which is its greatest strength. It is well-positioned to become a strong alternative to traditional consulting services, the current optimal choice in the market.”

Shin-Hyuk Cho, CEO of AIgement, said, “We expect Allmighty to deliver meaningful cost-reduction outcomes across a wide range of manufacturing sectors. With this investment, we will further advance and enhance the solution.”

Cheol-Woo Kim, CEO of TheVentures, added, “Since this is a service needed across various manufacturing industries, we will actively support AIgement’s service expansion and international growth. We will continue providing the follow-up support necessary for their post-investment scaling.”