Adcount Technologies Raises $2.25 Million In Series A Funding The fundraise will primarily fuel the first phase of brand's international expansion, as it aims to widen its footprints globally
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Adcount Technologies Pvt. Ltd., the parent company of SupplyNote, and a host of innovative supply chain tech solutions, has raised $2.25 million in its latest series A funding round. The round was led by Venture Catalysts and Artesian, with notable participation from Sattva Family Office, WFC, LetsVenture, Soonicorn Ventures, Cogniphy, SucSEED Indovation, SOSV, and DSP family office. The fundraise will primarily fuel the first phase of the brand's international expansion, as it aims to widen its footprints globally.
Through SupplyNote, we facilitate annual purchases worth $100 million in India alone. Vyap empowers procurement worth $2.25 million in Noida & 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," said Kushang, the CEO and co-founder, Adcount Technologies.
Adcount Technologies, currently active in six countries, is strategically focused on expanding its presence, particularly in the MENA and Southeast Asia regions in Phase 1. According to the company, the approach will be towards catering to the global market by scaling Adcount's four distinctive verticals – Posify, SupplyNote, SupplyLink, and Vyap in sync with requirements in the newer geographies.
SupplyNote's all-encompassing suite of products empowers businesses with robust, digitized supply chain management solutions in the post-COVID era. The remarkable traction they've received from renowned clients like CureFoods, Biryani By Kilo, Swiggy Kitchen underscores their market credibility and readiness for exponential growth," said Apoorva Sharma, co-founder and president, Venture Catalysts.
