Adcount Technologies raises $2.25M in a Series A round led by Venture Catalysts, others

Adcount Technologies, the parent company of SupplyNote, has raised $2.25 million in a Series A funding round led by Venture Catalysts and Artesian, with participation from Sattva Family Office, WFC, LetsVenture, Soonicorn Ventures, Cogniphy, SucSEED Indovation, SOSV, and DSP family office. 

The funding round, which took the total funding amount to $5 million, would be used towards the initial phase of international expansion as it aims to broaden its global presence and extend its operations beyond the six countries it currently serves.

Founded in 2015 by Kushang, Nitin Prakash, Harshit Mittal, and Abhishek Kumar, Adcount Technologies said it specializes in offering cutting-edge supply chain tech solutions to assist food businesses in digitizing and optimizing their operations.

The company provides a comprehensive suite of independent yet integrable products, which include SupplyNote, SupplyLink, Vyap, and Posify. These products are designed to streamline and enhance various aspects of the supply chain process for food businesses, enabling them to operate more efficiently and effectively, the startup said.

“SupplyNote is solving the big problem of procurement, ordering, inventory management & vendor management of the HoReCa industry. It’s a multibillion opportunity and nobody is solving it with such focused commitment like SupplyNote. Since the beginning, they have been working closely with customers and as a result, a lot of the customers have converted into investors. It’s a great combination of good pedigree founders solving a large TAM business and have scaled it successfully. That’s the reason we have been continuously reinvesting in them,” said Neeraj Tyagi, Co-Founder and CEO of WeFounderCircle.

Kushang, said, “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 & 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.”

It claims to have well-known firms as its clients such as CureFoods, Biryani By Kilo, and Swiggy Kitchen.

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