Supply Chain Startup 3SC Secures Fresh Funds in New Investment Round

Gurugram-based supply chain startup SS Supply Chain Solutions (3SC) has successfully raised Rs 31 crore (approximately $4 million) in funding from its existing investor, GEF Capital’s South Asia Growth Fund. This marks the company’s first investment round for the year.

According to regulatory filings accessed from the Registrar of Companies, the board at 3SC has passed a special resolution to issue 31,00,000 compulsory convertible preference shares at an issue price of Rs 100 each, resulting in the raising of Rs 31 crore. These funds will be allocated for growth and expansion initiatives as per the decision of the board of directors.

Following the investment, GEF Capital’s South Asia Growth Fund will hold a majority stake of 66.27% in the company post-allotment. This funding round follows 3SC’s Series B round in July 2021, where it raised $15 million led by GEF Capital’s South Asia Fund.

Founded in 2012 by Lalit and Sarita Das, 3SC offers comprehensive supply chain services across various industries including pharmaceuticals, healthcare, industrials, FMCD, FMCG, and e-commerce. Additionally, the company provides supply chain analytics solutions to businesses.

With a team of over 100 data scientists and a clientele of more than 75 clients, 3SC boasts of having executed over 20,000 transactions to date.

Despite reporting a modest revenue growth of 1.71% to Rs 130.8 crore during FY23 from Rs 128.6 crore in FY22, 3SC Solutions witnessed a significant increase in losses, which surged 2.3 times to Rs 31.5 crore in FY23 from Rs 14 crore in FY22, as per its consolidated financial statement. The firm is yet to file its audited financial statements for FY24.

GEF Capital Partners, a climate tech-focused private equity firm, recently concluded its $325 million GEF US Climate Solutions Fund II, which includes investments in companies like Blue Earth Capital, HQ Capital, ODDO BHF, and INGKA Investments. Notably, the firm also inked a deal to invest Rs 580 crore in TI Clean Mobility last month.

Source: Entrackr

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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