[Funding alert] Gurugram startup O4S raises $6M in Series A round from Think Investments, Venture Highway
, an IoT SaaS startup focused on the supply chain segment, on Monday said it raised a Series A round of $6 million led by Think Investments, with participation from existing investor Venture Highway.
The Gurugram-based startup, founded in 2017 by Divay Kumar and Shreyans Sipani, had raised a total of $3.5 million in various investment rounds backed by Venture Highway and angel investors.
With the current funding, O4S plans to ramp up its operations across North America and Southeast Asia, expanding its enterprise customer base to over 500 and headcount to above 200. It will also focus on the horizontal expansion of the application of its product.
O4S co-founder Divay Kumar
O4S' IoT and SaaS-driven platform helps FMCG and manufacturing companies like ITC, Coca Cola, Honeywell, AkzoNobel, and Mondelez, among others, digitise and automate the supply chain across manufacturing, warehouses, and retail networks to increase sales and performance.
The startup uses new-age technologies like AI, ML, and IoT, with the core supply chain operations to build global supply chain networks for enterprises.
“In the last three years of starting operations, we have worked with more than 50 large consumer brands from various industries and understood their pain points well. O4S’s platforms are developed to resolve persisting supply chain challenges and lack of visibility in distribution,” said Co-founder Divay Kumar.
O4S has a presence in over 15 countries, including the UAE, Vietnam, Indonesia, Singapore, and Malaysia.
“We strongly believe in O4S and its vision to help businesses optimise their performance through enhancing and digitising supply chains,” said Shashin Shah, Managing Partner at Think Investments.
“We have backed O4S since its inception, and have seen the founders and the team build a fantastic product for an extremely sticky customer base. The supply chain traceability and automation market are projected to reach $7.3 billion by 2026. O4S has a huge opportunity to become a leader in this vertical,” said Samir Sood, Founder, Venture Highway.