Arteria Technologies, a company based in Bengaluru that provides supply chain software and finance solutions, has raised INR 100 crore in Series B funding from ICICI Venture.
The money raised, from both new and existing shares, will help Arteria Technologies expand into new markets and hire more people.
It will also support the development of their AI-based products.
“This funding will play a key role in growing our team, entering new markets, and investing in AI-led product innovation,” said Sriram Kanuri, Chief Executive Officer of Arteria. “We are committed to using data intelligence to improve supply chain visibility for our enterprise clients and unlock easy, tech-enabled financing for supply chain partners.”
“Arteria’s fast-growing, profitable path as a software products SaaS company stands out in the Indian IT market,” said Sharad Malpani, Director at ICICI Venture and co-head of IVen Amplifi Fund, which led the round. “Its tech-focused, data-driven approach to digitising supply chains, combined with Arteria’s ability to integrate financing solutions from third parties seamlessly, offers a strong value proposition for many companies in India, especially in the MSME sector.”
Arteria was founded in 2010. It creates digital tools that help companies manage their supply chains more easily, from suppliers to customers.
The company also provides built-in financing options to help suppliers and distributors get money faster and improve their cash flow.
The company works with more than 100 big businesses in industries such as FMCG, automotive, building materials, and manufacturing.
ICICI Venture is a private equity firm based in Mumbai. It was started in 1988 as part of ICICI Bank. The firm invests in mid-sized businesses to help them grow and expand their operations and market reach.
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