Adcount Technologies secured $2.25 M Series A funding from Venture Catalysts, Artesian
Adcount Technologies, the company that owns SupplyNote and provides supply chain technology solutions, has raised $2.25 million in a Series A round co-led by Venture Catalysts and Artesian, with participation from illustrious investors such as the Sattva Family Office, WFC, LetsVenture, Soonicorn Ventures, Cogniphy, SucSEED Indovation, SOSV, and DSP family office.
With this most recent round, Adcount Technologies has now raised $5 million in total.
According to a press release from Adcount, the company intends to use the raised funds to scale its four distinct verticals, Posify, SupplyNote, SupplyLink, and Vyap, as well as to strengthen the product and technology teams.
Kushang, Nitin Prakash, Harshit Mittal, and Abhishek Kumar co-founded Adcount in 2015, a company that specializes in helping food businesses digitise and streamline their operations. It seeks to transform the food industry by offering ground-breaking solutions that maximize productivity, improve transparency, and spur expansion.
By the end of the 2024–25 fiscal year, the Delhi–based company hopes to have 30,000 F&B outlets worldwide. According to the business, clients can reduce their bottom line by 5 to 7%, which could result in an increase in profits of 50 to 70%. Additionally, it asserts to have 5,000 outlets spread across 86 cities in its network.
While Adcount Technologies has not yet submitted its financial information for FY23, it experienced an operating scale increase of nearly 59% in FY22, from Rs 3.06 crore to Rs 4.86 crore. The company’s losses increased 17.5% to Rs 5.24 crore in FY22 from Rs 4.46 crore in FY21, according to its annual financial statement.
