Logistics

Supplynote raises $600,000 from SOSV, others

Our Bureau Mumbai | Updated on October 21, 2020 Published on October 21, 2020

The funding will be utilised for business development activities and expansion plans

Noida-based supply chain automation platform to use funds for business development, expansion, product development

Supplynote, a Noida-based supply chain automation platform, has raised $600,000 in a bridge round, led by US-based multi-stage venture capital firm SOSV and Australia-based global VC firm Artesian Ventures.

Existing investors SucSEED Ventures, CIO Angel Network, Venture Catalysts and angel investors Arjun Soni, Angad Soni and Sunny Vohra also participated in the round, the company said in a statement.

The funding will be utilised for business development activities and expansion plans. A part of the funding will also be utilised in product development.

“The restaurant industry, strong-armed by delivery platforms, is ripe for digitalisation and disruption. Supplynote enables restaurants not only to increase profit by 70 per cent but also to supercharge their supply chain efficiency. The solution by Supplynote has gained great traction in a very short span of time. And as things return to normalcy in the market post Covid-19, we anticipate a surge in demand for this unique solution,” said William Bao Bean, General Partner at SOSV, Managing Director of MOX - Mobile Only Accelerator.

Supplynote plans to enable 2,000 more restaurant outlets in India with its solution by the end of the current fiscal year.

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Published on October 21, 2020
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