Centriti, a pioneering business-to-business (B2B) e-procurement platform, has successfully raised Rs 6 crore in a recent funding round led by Emergent India Ventures. This round also saw significant participation from prominent investors such as Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group.

The newly acquired capital will be directed towards enhancing the platform’s technological capabilities, reducing service time, and expanding its presence into new geographical regions.

Centriti’s Core Mission and Founding Vision

Founded in 2022 by Daljeet Singh, Centriti was created with a clear mission: to streamline procurement processes for the hotel, restaurant, and catering (HoReCa) industry. The platform leverages advanced mid-mile logistics, warehousing solutions, and AI-driven inventory management to consolidate all procurement needs into a single, efficient system.

This integration helps hospitality businesses reduce costs, minimize waste, and significantly improve operational efficiency.

Market Presence and Expansion Plans

Currently, Centriti operates in Delhi, Bengaluru, and Jaipur. With the fresh infusion of funds, the startup is poised to expand its footprint to Goa, Hyderabad, Kochi, and Chennai over the next two years.

These seven cities collectively represent approximately 35% of the large hotel market in India, offering a substantial target audience for Centriti’s innovative platform. Among Centriti’s notable clients are esteemed hospitality brands such as Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point.

Impact and Growth Trajectory

“This investment is a testament to the hard work and dedication of our team and will enable us to revolutionize procurement systems in the hospitality industry at scale. Within a short span of two years, we have been able to create a significant impact in the geographies we currently operate in.

With this support, we are poised to deliver unparalleled value to our partners and customers,” said Daljeet Singh, the founder of Centriti.

Looking ahead, Centriti aims to scale up its operations tenfold over the next two years. The company is focusing on expanding its market reach and further enhancing its technological infrastructure to support this growth.

“We are currently at about Rs 2 crore of monthly run rate (MRR). We plan to double that in the next two months. Our target is to reach Rs 4 crore by September and Rs 6 crore MRR by December 2024,” Singh added.

Investor Perspectives and Future Outlook

Karan Mittal, General Partner at Emergent India Ventures, expressed his enthusiasm for Centriti’s potential. “As an impact-focused mobility fund, enabling supply chain efficiencies is paramount to our investment thesis. Centriti’s innovative approach in providing a holistic solution for the HoReCa industry through its end-to-end procurement platform while leveraging AI has immense potential to revolutionize distribution and mid-mile logistics across the sector,” he said.

The confidence from investors is rooted in Centriti’s ability to address key pain points within the HoReCa industry. By integrating cutting-edge technology and comprehensive logistics solutions, Centriti offers a robust platform that enhances efficiency and reduces costs for its clients.

This investment round marks a pivotal step in Centriti’s journey, providing the necessary resources to expand its market presence and improve its technological offerings.

Centriti’s Vision for the Future

Centriti’s long-term vision is to become the leading procurement platform for the hospitality industry, driving innovation and efficiency at every stage of the supply chain.

By leveraging AI and advanced logistics solutions, Centriti aims to set new standards in procurement, enabling hotels and restaurants to focus on delivering exceptional experiences to their customers. The company’s commitment to reducing service time and expanding into new markets underscores its ambition to make a lasting impact on the HoReCa industry.

Conclusion

In conclusion, the successful funding round led by Emergent India Ventures and supported by other prominent investors marks a significant milestone for Centriti. With the new capital, the startup is well-positioned to enhance its technological capabilities, reduce service times, and expand its geographical presence, ultimately revolutionizing the procurement landscape for the HoReCa industry.

As Centriti continues to grow and innovate, it is poised to deliver unparalleled value to its partners and customers, setting the stage for a new era in hospitality procurement.

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