Adcount Technologies Raises $2.25 Million in Series A Funding to Revolutionize Supply Chain Management

• ByStartupStory     |    July 12, 2023

Adcount Technologies Pvt. Ltd., the parent company of SupplyNote, a provider of innovative supply chain tech solutions, announced today that it has successfully 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.

The fresh funding will enable Adcount Technologies to further expand its operations and solidify its position as a trailblazer in the supply chain management industry. With this investment, Adcount Technologies has raised a total of $5 million in capital, paving the way for significant growth opportunities.

SupplyNote, a part of Adcount Technologies, focuses on solving the challenges of procurement, ordering, inventory management, and vendor management for the HoReCa industry. The startup’s commitment to addressing a multibillion-dollar opportunity with a focused approach has garnered support and investment from a wide range of investors.

“SupplyNote is solving the big problem of procurement, ordering, inventory management, and vendor management of the HoReCa industry. 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,” stated Neeraj Tyagi, Co-Founder and CEO of WeFounderCircle.

The strong endorsement from investors is further reinforced by SupplyNote’s impressive client portfolio. Renowned brands such as “Naturals Ice Cream,” “Biryani By Kilo,” “Bikkgane Biryani,” “Caterspoint,” “Burgrill,” and “Ironhill Brewery” have all embraced SupplyNote’s capabilities, recognizing the company’s commitment to transforming the supply chain management landscape.

The latest funding will primarily fuel Adcount Technologies’ international expansion plans, with a strategic focus on the MENA and Southeast Asia regions. Currently operational in six countries, the company aims to broaden its footprint and capture new markets during the initial phase of its global expansion strategy.

Reflecting on the company’s achievements, Kushang, the CEO and Co-Founder of Adcount Technologies, expressed his excitement for the future. “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.”

Adcount Technologies has ambitious targets for the next 18 months, including 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.

The company’s success is built upon a strong foundation of four distinctive verticals – Posify, SupplyNote, SupplyLink, and Vyap – which cater to the specific requirements of businesses in the supply chain management domain. Adcount Technologies has experienced significant growth, connecting a vast network of 5,000 outlets across 86 cities.

Looking ahead, Adcount Technologies aims to expand its reach to 30,000 F&B outlets worldwide by the end of the 2024-25 fiscal year. This expansion will allow even more businesses to benefit from the comprehensive suite of products offered by Adcount Technologies, driving efficiency and cost reduction in their supply chain operations.

“With Adcount’s assistance, clients can reduce their bottom line by 5-7%, leading to a potential increase in profits by about 50-70%,” said a company representative.

About Adcount Technologies:

Adcount Technologies Pvt. Ltd. is a supply chain tech company dedicated to assisting food businesses in digitizing and streamlining their operations. The company offers a comprehensive suite of independent yet integrable products, including SupplyNote, SupplyLink, Vyap, and Posify. With a deep understanding of the challenges faced by food businesses, Adcount Technologies aims to revolutionize the industry by providing innovative solutions that optimize efficiency, enhance transparency, and drive growth.

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