Supply Port, a B2B brand providing a one-stop supply chain solution for restaurants, has raised pre-seed funding of an undisclosed amount from marquee investors. Investors include Anant Agrawal and Sanjeev Agrawal- MMG Restaurants Private Limited directors.
Samarthya Bhargava and Manoj Malhotra founded the brand to offer technology-based inventory management, just-in-time inventory replenishment, and a one-stop shop for restaurant supplies. Currently, they are servicing Delhi NCR, including Gurgaon, Delhi, and NOIDA, to about 200 restaurants.
They plan to expand to over 30,000 restaurants across the top 40 cities in India in the next three years.
The business is growing 20% monthly, and with this round of funding, they are planning to double the growth.
Through this investment, Supply Port intends to focus on technology upgradation to ensure the most efficient supply chain system specifically designed for the hospitality industry.
Expansion plans will require acquiring a professional team to build an organization that doesn’t crumble under the burden of exponential growth.
Mr. Anant Agrawal, Director of MMG Restaurants Private Limited, commented on the funding, “We are super excited to partner with Samarthya on their vision to offer tech-based inventory management that solves the major problem of restaurants to maintain the inventory manually.
I feel it’s a revolutionary solution to a problem with most restaurants in Pan India. We have extreme confidence in the growth potential of this category and the opportunity to build a category-defining brand in the supply chain industry.”
Adding to the vote of confidence, Mr. Sanil Sachar, Founding Partner Huddle (Huddle being an accelerator to Supply Port), said, “Support is building itself into becoming a central system for the HORECA segment through its seamless Support to help their clientele optimize their backend while being able to scale.
Supply Chain as a sector has been awaiting a focussed disruption of this nature.
Combining the deep knowledge of the product, ops, business acumen, and execution skills, Samarthya and his team have created the correct systems to diversify their offerings and presence across geographies.
I have full faith in the brand’s growth potential, and we’re excited for the journey ahead.”
The organized restaurant market comprises over 1,20,000 restaurants in the top 40 cities of India.
Averaging at about 6,000 in tier 1 cities and 1,500 in level 2 cities. Supply Port is currently servicing 200 restaurants in a town with roughly 8,000 restaurants, granting it 2.5% of the market share in Delhi NCR. Supply Port tries to marry technology with the brand with a problem-solving approach.
Integrating the mobile application with Supply Port’s backend software will ensure that the stock at the restaurant is constantly replenished on time and restaurant minimum stock levels are maintained. Through machine learning and AI, the mobile app will learn the ordering pattern of a restaurant and make it more efficient and accurate over time.
This will also enable Supply Port to make the purchase and inventory system of the restaurant more efficient and transparent to the owner.
With these competitive advantages against the prevailing amorphous systems, we intend to focus on rapid growth across restaurants in India.”
This article was shared with Prittle Prattle News as a Press Release.
