The fresh capital will primarily fuel the first phase of the brand’s international expansion, as it aims to widen its footprint globally
Adcount Technologies Pvt. Ltd., the parent company of SupplyNote, has raised $ 2.25 million in its latest series A funding round. The round was led by Venture Catalysts and Artesian, with participation from Sattva Family Office, WFC, LetsVenture, Soonicorn Ventures, Cogniphy, SucSEED Indovation, SOSV, and DSP family office.
This latest round brings Adcount Technologies’ total capital raised to a significant $5 million.
The fresh capital will primarily fuel the first phase of the brand’s international expansion, as it aims to widen its footprint globally. The company is currently active in six countries and wants to enter particularly in the MENA and Southeast Asia regions in Phase 1.
Addressing the fundraising round, Kushang, the CEO and Co-Founder of AdCount Technologies, stated, “Our growth trajectory is truly remarkable. Through SupplyNote, we facilitate annual purchases worth $100 million in India alone. Vyap empowers procurement worth $2.25 million in Noida and Gr. Noida, while SupplyLink efficiently manages goods worth $5 million across 42 cities in India. These figures are set to skyrocket in the upcoming months. Looking ahead, our ambitious 18-month targets include facilitating $1.2 billion worth of purchases via SupplyNote, achieving $25 million in annual recurring revenue (ARR) with Vyap, and distributing goods worth $150 million through SupplyLink.”
“We feel SupplyNote is a prudent investment due to its innovative approach to streamlining inventory management, order placement, and sales analytics. Its cloud-based suite is revolutionizing inventory management and improving overall performance of businesses. Investing in this powder-keg of potential was almost a no-brainer for us,” said CA Vijay Singh Rathore, Co-founder of Soonicorn Ventures.