New Delhi: Ev2 Ventures, a Sustainable Mobility Climate focused VC fund, has led an INR 6 Crore Pre-Series A investment round in Centriti, a HoReCa distribution company headquartered in Delhi with operations spanning across Delhi, Jaipur, and Bangalore. The investment round witnessed enthusiastic participation from Atrium Angels, Alluviam Capital, Brigade REAP, and HOF Profectus & CoralBay Ventures.
The organized hospitality market in India, estimated at $78 billion, sees the HoReCa industry contributing significantly, adding 7% to the country’s GDP. With a potential $4 billion supply chain opportunity, the HoReCa sector encompasses approximately 7 million restaurants, 53,000 hotels, and 34,000 cafes.
Karan Mittal, General Partner at Ev2 ventures, said “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 for hotels and restaurants, while leveraging AI has immense potential to revolutionize distribution and mid-mile logistics across the sector”
“This investment is a testament to the hard work and dedication of our team, and it will enable us to revolutionize the procurement systems in the hospitality industry by providing innovative solutions to streamline processes and enhance efficiency. Within a short span of two years we have been able to create a significant impact in the geographies we are present in, with this support, we are poised to deliver unparalleled value to our partners and customers. ” expressed Daljeet Singh, Founder at Centriti.
“We see significant opportunity for procurement systems and supply chain solutions to get built out for the hotels and restaurant chains in India. Centriti stood out for us with their excellent execution on both sides with suppliers and buyers, leveraging technology and solving key pain points while bringing in cost efficiencies.” Atrium Angels, the ISB alumni fund investing in early-stage startups.
“Centriti is on a journey to solve a long standing problem in HoReCa industry through the use of technology. We are confident of a strong and sustainable growth path for the company through the founders’ immense focus on execution excellence and a tech-first approach to the problem statement.” Alluviam Capital.
“Brigade REAP is thrilled to participate in the pre-Series A round of Centriti. We are excited about their mission to bring efficiency and innovation in the hospitality supply chain. Their unique approach to HoReCa distribution, powered by technology and AI, aligns perfectly with REAP’s mission to support advancements in UrbanTech ” – Abhay Garg, Head & Chief Mentor at Brigade.
“Centriti showcases an active approach through its technologically advanced platform that simplifies and optimizes processes within the HoReCa sector. It streamlines transactions, deliveries and inventory management in an efficient way, hence successfully bridging the gap between suppliers and hospitality partners. This novelty boosts our trust and future expectations towards Centriti” – HOF Profectus & CoralBay Ventures.
Founded in 2022, Centriti offers a cutting-edge, tech-based end-to-end procurement solution tailored specifically for the HoReCa sector. Leveraging mid-mile logistics and warehousing solutions, Centriti provides a comprehensive B2B SaaS e-procurement platform, empowered by AI-driven integrated inventory software.
For hoteliers, Centriti serves as a tech-powered single-basket supplier, efficiently addressing procurement needs with real-time inventory control, particularly beneficial for large hotel chains. Meanwhile, for brands, Centriti ensures product integrity, on-time delivery, and secondary sale control, enhancing overall supply chain efficiency.
Centriti has achieved remarkable traction within just 20 months of its inception, boasting a prestigious clientele that includes Leela, Taj, Oberoi, Marriott, ITC, Shangri-La among others. With an unwavering commitment to customer satisfaction, Centriti offers all-India client service with a 24-hour delivery guarantee, facilitated by sanitized, temperature-controlled warehouse access. Real-time analysis, including customer feedback tracking for manufacturers and warehouse stock visibility on the dashboard, further enhances Centriti’s value proposition.
