Supply Chain offering platform 3SC grabs $4 million in fresh Funding round
Supply chain startup platform SS Supply Chain Solutions(3SC) has recently raised Rs. 31 crore or nearly $4 million in a fresh funding round from their existing investors GEF Capital’s South Asia Growth Fund. This round is the first round of investment for the startup.
The regulatory filing from the Registrar of Companies executed that, the managerial board at 3SC has declared a resolution to issue 31,00,000 compulsory convertible preference shares at a price of Rs.100 each to raise Rs. 31 crore.
The company has informed that, they will use this freshly lifted fund for growth and expansion as per the decision taken by the managerial board of the company. The company’s regulatory filings also showed that, GEF Capital’s South Asia Growth Fund will cover 66.27% of the company post-allotment.
3SC had raised $15 million in its Series B round led by GEF Capital’s South Asia Fund in July 2021. Looking at the involvement and trend of the company, it seems that, GEF Capital will take over the company fully in upcoming years.
The startup was founded by Lalit and Sarita Das in 2012. The company offers supply chain service, catering to a diverse array of industries such as pharmaceuticals, healthcare, industrials, FMCD, FMCG, and e-commerce. It also delivers supply chain analytics solutions to businesses. It also provides supply chain analytics solutions to businesses.
The company claims that, they are connected with 100 data scientists, over 75 clients and has done more than 20,000 transactions to date. The company’s revenue from operation grew 1.71% to Rs. 130.8 crore during FY23 from Rs. 128.6 crore in FY22.
The consolidated financial statement of the company depicts, the company losses jumped 2.3X to Rs.31.5 crore in FY23 against Rs. 14 crore in FY22. The firm is yet to file its audited financial statements for FY24. The firm has not yet published its audited financial statements for FY24. Last month, climate tech focused private equity firm GEF Capital Partners recently closed its$325 million GEF US Climate Solutions Fund II. Recently, it signed a deal of agreement to invest Rs. 580 crore in TI Clean Mobility.
The regulatory filing from the Registrar of Companies executed that, the managerial board at 3SC has declared a resolution to issue 31,00,000 compulsory convertible preference shares at a price of Rs.100 each to raise Rs. 31 crore.
The company has informed that, they will use this freshly lifted fund for growth and expansion as per the decision taken by the managerial board of the company. The company’s regulatory filings also showed that, GEF Capital’s South Asia Growth Fund will cover 66.27% of the company post-allotment.
3SC had raised $15 million in its Series B round led by GEF Capital’s South Asia Fund in July 2021. Looking at the involvement and trend of the company, it seems that, GEF Capital will take over the company fully in upcoming years.
The startup was founded by Lalit and Sarita Das in 2012. The company offers supply chain service, catering to a diverse array of industries such as pharmaceuticals, healthcare, industrials, FMCD, FMCG, and e-commerce. It also delivers supply chain analytics solutions to businesses. It also provides supply chain analytics solutions to businesses.
The company claims that, they are connected with 100 data scientists, over 75 clients and has done more than 20,000 transactions to date. The company’s revenue from operation grew 1.71% to Rs. 130.8 crore during FY23 from Rs. 128.6 crore in FY22.
The consolidated financial statement of the company depicts, the company losses jumped 2.3X to Rs.31.5 crore in FY23 against Rs. 14 crore in FY22. The firm is yet to file its audited financial statements for FY24. The firm has not yet published its audited financial statements for FY24. Last month, climate tech focused private equity firm GEF Capital Partners recently closed its$325 million GEF US Climate Solutions Fund II. Recently, it signed a deal of agreement to invest Rs. 580 crore in TI Clean Mobility.
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