B2B e-procurement platform Centriti raises Rs 6 crore in funding

B2B e-procurement platform Centriti has raised Rs 6 crore in a funding round led by Emergent India Ventures. 

The round also saw participation from Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group.

The startup will use the raised capital to enhance its technological capabilities, reduce service time, and expand into new geographical regions.

What does Centriti do?

Founded in 2022 by Daljeet Singh, Centriti is a business-to-business (B2B) e-procurement platform specifically designed for the hotel, restaurant, and catering (HoReCa) industry.

The platform leverages mid-mile logistics, warehousing, and AI-driven inventory management solutions to help hospitality businesses streamline their procurement processes.

By consolidating all procurement needs into a single system, Centriti aims to reduce costs, minimize waste, and improve overall operational efficiency for hotels and restaurants.

Centriti's market presence

The startup currently operates in Delhi, Bengaluru, and Jaipur and plans to expand to Goa, Hyderabad, Kochi, and Chennai over the next two years.

These seven cities account for about 35% of the large hotel market in India, providing a substantial target audience for Centriti's platform. 

Centriti has notable clients such as Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point.

“This investment is a testament to the hard work and dedication of our team and will enable us to revolutionise 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," Singh said.

Aiming to scale up growth

Looking ahead, Centriti aims to scale up 10x over the next two years, focusing on expanding its market reach and enhancing its technological infrastructure.

“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 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 while leveraging AI has immense potential to revolutionize distribution and mid-mile logistics across the sector," said Karan Mittal, general partner at Emergent India Ventures.