Observed Signal · Jul 22, 2025 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Source raises $1.4M pre-seed for AI retail procurement
Dublin-based retailtech startup Source has raised $1.4M in pre-seed funding to scale its agentic AI platform that automates stock purchasing for small and medium-sized retailers. Led by Australian VC Square Peg, with participation from ex-Stripe CTO David Singleton and the Xtripe angel syndicate, the round will double engineering headcount, launch US pilot programs, and fund a relocation to Silicon Valley. CEO and founder Liam Fuller, aged 18, developed the idea after discovering that many retailers still rely on email and Excel for inventory ordering. Source integrates with retailers' existing ERPs, Excel sheets, and email inboxes to generate AI-driven purchase order suggestions, saving time and surfacing missed opportunities. The company has about ten pilots and has joined the NDRC Accelerator in Dublin.
Pre-seed funding for an AI retail procurement startup showcases agentic AI in commerce, but is not directly relevant to advertising; moderate relevance to AI infrastructure.
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Key Takeaways & Evidence Grounding
- Source raised $1.4 million in Pre-Seed funding.
- Square Peg led the round, with participation from David Singleton and Xtripe angel syndicate.
- Source's platform uses agentic AI to automate stock purchasing for retailers.
- The startup is headquartered in Dublin, Ireland, and registered as QuickFind AI, Inc.
- Source plans to double engineering headcount, launch US pilots, and relocate to Silicon Valley.
Connected Companies & Entities
4 Entities mapped“Square Peg — early backer of Canva, Airwallex and Rokt — led the round, alongside former Stripe CTO David Singleton and the Xtripe angel syn...”
“launched during the Stripe × OpenAI-backed Patch youth accelerator....”
“launched during the Stripe × OpenAI-backed Patch youth accelerator....”
“He had a number of successful businesses, including CartShare, a Shopify plug-in founded in 2023....”
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