Freehand, an enterprise AI startup focused on supply chain spend management, raised $75 million in a Series B funding round to expand its autonomous AI agents. The financing was co-led by Battery Ventures and NewRoad Capital Partners, with participation from Nexus Venture Partners and former U.S. Commerce Secretary Penny Pritzker. Based in San Francisco, Freehand has now raised a total of $100 million since its founding in February 2024, according to news.crunchbase.com.
The Series B round follows Freehand’s $25 million Series A raised in March 2024. CEO and co-founder Nitin Jayakrishnan described the new funding as a “significant step up” from the previous round. Freehand was founded by Jayakrishnan and Abhijeet Manohar, who previously co-founded and sold Pando, a SaaS transportation management system and procure-to-pay platform for enterprise logistics. The startup’s AI agents automate complex supply chain spend and back-office operations for Fortune 500 companies.
The funding comes amid rising challenges in global supply chains, including tariffs, taxes, and immigration policies that have strained traditional outsourcing models. Venture capital investment in supply chain and logistics startups has surged in 2026, with $6.2 billion raised across 350 deals in the first half of the year, marking the strongest funding pace since 2022, per Crunchbase data. Freehand’s platform aims to address these complexities by leveraging AI to optimize enterprise logistics spend.
Freehand’s latest capital injection positions it to scale its autonomous AI technology further within the enterprise supply chain sector. The company declined to disclose its current valuation. Jayakrishnan and Manohar’s prior experience with Pando provides a foundation for Freehand’s growth in the competitive logistics technology market.