Supply chain automation platform Supplynote raises $600K from SOSV, others
Supplynote, a Noida-based supply chain automation platform, has raised $600k in a bridge round led by the US-based multi-stage venture capital firm SOSV and Australia-based global VC firm Artesian Ventures.
Supplynote works for both restaurants and suppliers and connects them on its two-way SaaS platform. This allows end-to-end digitisation of the procurement process and automation steps like inventory management, ordering, payment ledger management and to solve the supplier/product discovery problems.The startup said the latest funding will be utilised in business development activities and expansion pan India. A part of the funding will also be utilised in product development.
“We are delighted that we could raise funds even during the current difficult times when most of the industries are struggling including the restaurant industry, which is the key target audience for our solution. Our solution will enable the restaurant outlets to fast-track their journey back to their regular business by helping them save money on their inventory and manage their supply chain better. The solution is more relevant to the clients now when they are struggling to return to normalcy,” said Kushang, Co-founder and CEO of Supplynote.