Centriti, a business-to-business (B2B) electronic procurement platform for the hotel, restaurant, and catering (HoReCa) industry, has secured a capital of Rs 6 crore in a round led by Emergent India Ventures.
The cash will be allocated towards improving technological infrastructure, decreasing service duration, and expanding into additional geographical areas.
Additionally, Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group also participated in the round.
The SaaS platform provides a technology-driven procurement system for the hotel industry, enabling them to optimize operations, minimize expenses, and enhance productivity.
Currently, it collaborates with a total of 120 hotels and restaurants, which include renowned establishments such as Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point. The company intends to extend its operations to Goa, Hyderabad, Kochi, and Chennai within the next two years, in addition to its current presence in Delhi, Bengaluru, and Jaipur.
Daljeet Singh, founder & CEO, Centriti, said: “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,”
Karan Mittal, general partner at Emergent India 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 (hotel, restaurant, and catering) industry through its end-to-end procurement platform, while leveraging AI, has immense potential to revolutionize distribution and mid-mile logistics across the sector.”
About Centriti
Founded in 2022 by Daljeet Singh, Centriti makes procurement easier for Hotels and Restaurants. We do this by using technology to create a platform that does demand prediction thereby reducing the inventory holding costs and eliminating pilferage.
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