SupplyNote raises $1.2 million as precursor in its Series A funding

SupplyNote, a B2B SaaS company that helps F&B businesses digitize and automate its supply chain and procurement has announced that it has raised $1.2 million in pre-series A round led by Venture Catalysts.

The investment round saw participation from US-based Astor Management, SOSV, Riso Capital, Manjal Investments, Angelbay, SucSEED Ventures, DevX Fund, Sarcha Advisors, and Faad Network.

Including this round, the company has raised a total of $2.8 million since its inception in 2015. The company raised its previous rounds from GHV Accelerator, Artesian Ventures and DAS Capital amongst others.

We are working towards further refining our tech offerings, and strengthening our presence within the F&B ecosystem in new geographies. By the end of the fiscal, we aim at widening our footprint in India, Middle East, and South East Asia” Kushang, co-founder & CEO, SupplyNote said.

India is expected to be ranked amongst the top five business hospitality markets globally by 2030. The F&B industry in India is digitized by food delivery apps that are playing on the consumer side of the business.

However, there's a large opportunity on the backend which is essentially the supply chain. The company will use the funding in hiring and upgrading the tech stack, scale up its HoReCa marketplace, extend credit options through partners, and reinforce its fulfilment service function.