SupplyNote, a Noida, India-based B2B supply chain management company has raised $1.2 million in pre-Series A funding.
The round was led by Venture Catalysts, with participation from Astor Management, SOSV, Faad Network, DevX Fund, Sarcha Advisors, SucSEED Ventures, Manjal Investments, Angelbay, and Riso Capital.
The proceeds from the funding round will be used for hiring and upgrading its technology stack, scaling up its HoReCa marketplace, extending credit options through partners, enabling easier transactions between restaurants and suppliers, and reinforcing its fulfillment service function.
Additionally, some of the funds will be used to close strategic partnerships with POS, Payments, and Loyalty companies.
Company: Adcount Technologies Private Limited
Raised: $1.2M
Round: pre-Series A
Funding Month: October 2021
Lead Investors: Venture Catalysts
Additional Investors: Astor Management, SOSV, Faad Network, DevX Fund, Sarcha Advisors, SucSEED Ventures, Manjal Investments, Angelbay, and Riso Capital
Company Website: https://www.supplynote.in/
Software Category: Restaurant procurement platform
About the Company: Supplynote is India's leading restaurant procurement platform providing a unique stack of SAAS and E-commerce to solve the procurement problem of HoReCa, with a vision to create automation for procurement in the F&B industry, Supplynote offers end-to-end supply chain management solutions to restaurants, enabling them to understand purchasing trends, plan production, anticipate stock outs dates, set low-stock alerts and auto-create purchase orders. The USP of the product is, simplifying how restaurants order from vendors and enabling faster and simpler communication with vendors onto the platform. SupplyNote registered a growth of 800% during FY20-21 and is currently present in 41 cities in 3 countries.
Source: https://thetechportal.com/2021/10/28/supply-chain-management-startup-supplynote-raised-1-2-million-in-pre-series-a-funding-round/