Supply Chain Startup 3SC Secures Rs 31 Crore in Fresh Funding Round
- ByStartupStory | May 13, 2024
Gurugram-based SS Supply Chain Solutions (3SC) has announced a successful fundraise of Rs 31 crore from existing investors GEF Capital’s South Asia Growth Fund, marking a significant boost for the innovative supply chain service provider.
3SC, established in 2012 by Lalit and Sarita Das, specializes in comprehensive supply chain solutions across diverse industries including pharmaceuticals, healthcare, industrials, FMCD, FMCG, and e-commerce. The company also offers advanced supply chain analytics to optimize business operations.
According to 3SC, this investment will fuel its growth trajectory and strategic expansion plans. The funds will primarily be allocated towards enhancing service capabilities and scaling operations to meet increasing market demand.
The latest fundraising round involves the issuance of 31,00,000 compulsory convertible preference shares at an issue price of Rs 100 each, as approved by a special resolution of the company’s board. Post-allotment, GEF Capital’s South Asia Growth Fund will hold a 66.27% stake in 3SC, reflecting the investor’s strong confidence in the startup’s potential.
3SC’s achievements to date include serving over 75 clients, conducting more than 20,000 transactions, and boasting a talented team of over 100 data scientists.
This funding round follows a successful Series B round in July 2021, where 3SC secured $15 million led by GEF Capital’s South Asia Fund. With this continued support from GEF Capital, 3SC aims to further consolidate its market position and strengthen its capabilities in supply chain management and analytics.
The investment from GEF Capital aligns with the firm’s broader strategy of backing promising startups in the technology and sustainability sectors. Notably, GEF Capital Partners recently closed its $325 million GEF US Climate Solutions Fund II, demonstrating a commitment to fostering innovation in climate tech and clean mobility.
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