Arteria secures Rs 100 Cr in Series B from ICICI Venture to expand supply chain SaaS platform
Founded in 2010, Arteria offers digital solutions for managing upstream and downstream enterprise supply chains, with embedded financing options aimed at improving capital flow for suppliers and distributors.
Arteria Technologies Pvt. Ltd., a supply chain-focused SaaS and embedded finance company, has raised Rs 100 crore in Series B funding from ICICI Venture, as it looks to scale its operations and invest further in artificial intelligence-led product development.
The Bengaluru-based company stated that the capital infusion—a combination of primary and secondary funding—will be used to expand into new markets, strengthen its team, and accelerate AI innovation across its platform.
“This funding will play a key role in growing our team, entering new markets, and investing in AI-led product innovation,” said Sriram Kanuri, Chief Executive Officer of Arteria. “We are committed to using data intelligence to improve supply chain visibility for our enterprise clients and unlock easy, tech-enabled financing for supply chain partners.”
Founded in 2010, Arteria offers digital solutions for managing upstream and downstream enterprise supply chains, with embedded financing options aimed at improving capital flow for suppliers and distributors. The company said it works with more than 100 large enterprises across sectors such as FMCG, automotive, building materials and process manufacturing.
“Arteria’s fast-growing, profitable path as a software products SaaS company stands out in the Indian IT market,” said Sharad Malpani, Director at ICICI Venture and co-head of IVen Amplifi Fund, which led the round. “Its tech-focused, data-driven approach to digitising supply chains, combined with Arteria’s ability to integrate financing solutions from third parties seamlessly, offers a strong value proposition for many companies in India, especially in the MSME sector.”
In 2018, ICICI Bank and its unit ICICI Investment Management Co. had each picked up 9.99% in the fintech SaaS startup for Rs 8.68 crore in cash.
Based in Mumbai, ICICI Venture is an Indian private equity firm that was established in 1988 as a subsidiary of ICICI Bank. It primarily invests in mid-market businesses offer growth equity to help companies enhance operations and solidify their market position.
Innovist, the company behind personal care brands including Bare Anatomy and Chemist at Play, recently raised Rs 136 crore in a Series B funding round led by ICICI Venture through its new early growth fund, IVen Amplifi, marking its first investment.
Edited by Affirunisa Kankudti