Funding Roundup: SupplyNote, Kaso, Eratani and Others Thrive with New Capital Infusions
It has been a great couple of weeks for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:
SupplyNote Series A Funding
Restaurant supply chain management startup SupplyNote aims to facilitate large purchases and efficiently manage valuable goods through its platforms, with a goal to reach 30,000 F&B outlets globally by FY25. SupplyNote provides SaaS services for inventory management, fulfillment services, and a marketplace for small restaurants. It recently secured $2.25M in a Series A funding round led by Venture Catalysts and Artesian to support the company's international expansion in the MENA and Southeast Asia regions.
Year Founded: 2015
Founder(s): Kushang, Abhishek Verma, Nitin Prakash and Harshit Mittal
Location: Noida, India
Latest Funding: $2.25M Series A
Lead Investor(s): Venture Catalysts and Artesian
Raft Series B Funding
Raft, an intelligent logistics platform, applies AI to streamline tasks and customer interactions in the logistics industry. Its platform offers best-in-class automation throughout the entire shipment lifecycle, addressing pain points such as accounts payable reconciliation and customs entry preparation. With $30M raised in a Series B funding round led by Eight Roads VC, Raft aims to enhance its automation products and improve data collaboration.
Year Founded: 2017
Founder(s): James Coombes and Nisarg Mehta
Location: Southwark, England
Latest Funding: $30M Series B
Lead Investor(s): Eight Roads VC
Eratani Seed Funding
Indonesian-based agritech startup, Eratani, integrates technology into farming operations, benefiting a network of 20,000 rice farmers across five provinces. It aims to transform the agricultural sector in Indonesia by integrating technology into farming operations to drive efficiency, sustainability, and growth. In a seed funding round led by multiple investors, Eratani secured $2M, to support its comprehensive solution for rice cultivation.
Year Founded: 2021
Founder(s): Andrew Soeherman, Kevin Juan Tanggo Laksono and Angles Gani
Location: Jakarta, Indonesia
Latest Funding: $2M
Lead Investor(s): SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels
Kaso Seed Funding
Based in Saudi Arabia, Kaso seeks to revolutionize the F&B supply chain by digitalizing relationships between restaurants and suppliers to improve efficiency, transparency, and reduce food waste. The company has launched a FinTech platform to offer payments and credit facilities to restaurants, addressing key industry challenges. Kaso has raised $10.5M in a seed funding round to expand its operations in the Middle East F&B procurement market.
Year Founded: 2021
Founder(s): Manar Alkassar and Ahmed Soliman
Location: Riyadh, Saudi Arabia
Latest Funding: $10.5M
Lead Investor(s): Space Ventures, Hala Ventures, Seedra Ventures, Cyfr Capital, BY Venture Partners, Pioneer Fund and Vulpes Ventures
San Francisco startup, Silo, raised $132M in funding led by First Citizens Bank and Koch Disruptive Technologies. Silo offers technology solutions for the food supply chain, focusing on a finance platform called Silo Finance. The platform helps distributors and grower shipper businesses manage cash flow and financing effectively. The funding will be used to accelerate the growth of Silo's financial services solutions and product development.
Year Founded: 2018
Founder(s): Ashton Braun
Location: San Francisco, California, United States
Latest Funding: $132M
Lead Investor(s): First Citizens Bank and Koch Disruptive Technologies
Berlin-based Seedtrace offers a platform that enables businesses and conscious consumers to manage, validate sustainability claims, and collect tracing data in complex food and beverage supply chains. Seedtrace aims to bring transparency and accountability to supply chain management and make a positive impact in the industry. Seedtrace has raised €2M in a recent funding round led by multiple investors to support its product development, talent acquisition, and expansion strategies to strengthen Seedtrace's ecosystem and market presence.
Year Founded: 2019
Founder(s): Katharina Davids and Ana Haberbosch
Location: Berlin, Germany
Latest Funding: €2M
Lead Investor(s): Alpha Ventures, Twip and Futury Capital
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