Team Startupcity

• Arteria Technologies raised Rs 100 crore in Series B funding led by ICICI Venture's IVen Amplifi Fund to boost AI development and market expansion.
• Founded in 2010, Arteria digitizes supply chains and offers embedded financing to streamline operations for over 100 enterprise clients.
• The funds will support AI-driven product development, global growth, and hiring, with a focus on enhancing supply chain visibility and financing access.

Bengaluru-based SaaS firm Arteria Technologies raised Rs 100 crores for its Series B funding round. The money was raised by ICICI Venture through its IVen Amplifi Fund in a combination of primary and secondary funding.

With the new money, Arteria will grow into new markets, bring on new employees, and develop new artificial intelligence (AI) products. Arteria is also in the process of developing its supply chain platform to make it more effective for larger companies and their partners.

Arteria came into existence in 2010 and assists businesses to create digital tools that streamline their supply chain processes from procurement of raw materials to distribution of finished goods. One of the main features of Arteria is the embedded financing, whereby suppliers and distributors can get working capital via Arteria. This enhances cash flow and reduces paperwork and conventional loan practices.

Commenting on the new funding, Sriram Kanuri, CEO at Arteria, said, "This funding will be instrumental in expanding our team, expanding into new markets, and investing in AI-driven product development, We are dedicated to leveraging data intelligence to enhance supply chain visibility for our enterprise customers and unlock simple, tech-enabled financing for supply chain partners".

Arteria has more than 100 large businesses with operations in a diverse range of sectors such as FMCG, automotive, building materials, and manufacturing. Its platform is used as a core tool to enable businesses to digitize their supply chain activities to eliminate bottlenecks and inefficiencies.

ICICI Venture, the ICICI Bank private equity arm, stated "Arteria's profitable, high-growth journey as a software products SaaS player is unique in the Indian IT industry, Its technology-led, data-driven way of digitizing supply chains, coupled with Arteria's capability to onboard third-party financing solutions seamlessly, presents a compelling value proposition for several Indian companies, particularly those in the MSME space".

ICICI has also invested in Arteria earlier. ICICI Bank and ICICI Investment Management Co., respectively, acquired 9.99% or Rs 8.68 crore stake each in the startup in 2018. ICICI Venture, which began in 1988, also practices mid-size investing and assists mid-size businesses in scaling their operations. It previously invested Rs 136 crore in Innovist, a personal care startup that owns brands Bare Anatomy and Chemist at Play.

With this newest round of funding, Arteria will develop its technology, build out its artificial intelligence, and make its supply chain platform more intelligent and more accessible. Its primary objective is to support more companies in India and around the world by combining digital solutions with adaptable financing models.