B2B e-procurement platform for Hotel, Restaurant & Catering, Centriti, has secured Rs 6 crore in a funding round led by Emergent India Ventures with the funding round including prominent participants such as Atrium Angels, Alluvium Capital, Brigade Group, CoralBay Ventures and HOF.
The SaaS (Software-as-a-service) platform plans to deploy these funds to expand to new geographies, improve technological capabilities and reduce service time.
The tech-based startup in the HoReCa industry was founded in 2022 by Daljeet Singh, with an aim to help hotels reduce costs, increase efficiency, and enhance operations. Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation and Chai Point are some of the major hotel & restaurant chains that the platform, collaborates with. SupplyNote, EagleOwl, POSist, PetPooja, and SlickPOS are some of its competitors in the hotel industry.
While it works with 120 hotels across Delhi, Bengaluru and Jaipur, Singh has stated that the platform has expansion plans over the next two years which include cities such as Goa, Kochi, Hyderabad, and Chennai. These seven cities account for 35% of the large hotels market in India and should align with the company’s expansion plans. He also added that the company is aiming to increase its monthly run rate by 10 times over the next two years, with a goal to double the current MRR from Rs 2 crore to Rs 4 crore by September, and then Rs 6 crore by December.
As for the investments, Karan Mittal, general partner at Emergent India Ventures said that Centriti’s innovative approach of leveraging AI, as an end-to-end procurement platform to bridge the gaps in the HoReCa industry, has the potential to revolutionize the disbursement and mid-mile logistics across the sector. It aligns with Emergent India Ventures’ investment thesis as an impact-focused mobility fund aiming to enable supply chain efficiency.
