Gurugram-based SaaS startup O4S (Original4Sure) has raised $2.1 Mn in a Pre-Series A funding round led by Venture Highway.
The fresh funds will be used to expand company’s operations in India. It will also strengthen its workforce, accelerate client acquisition and build technology infrastructure across industries within India. Till date, the company has raised $2.5 Mn.
Founded in 2016 by Divay Kumar and Shreyans Sipani, O4S is a SaaS startup which offers supply chain solutions to brands. At present, O4S focuses on industries such as agriculture, FMCG, pharmaceuticals and personal care products.
Some of its clients include PepsiCo, ITC, Honeywell, DCM Shriram, Campus Shoes among others. O4S’ software offerings – Supplytics and Original4Sure – are built on product serialisation with built-in machine learning and Internet of Things (IoT) that adapt to the dynamic nature of businesses.
The company helps brands connect directly with retailers and distributors by tracking products throughout the supply chain, while O4S’ key focus is on consumer engagement. The O4S ecosystem is built on cloud-based infrastructure and engages all supply chain partners on a mobile app.
Divay Kumar, CEO, O4S, said “This new funding will aid our next phase of growth to enable fraud-free supply chains and become a SaaS offering of choice.”
The key value propositions include real-time inventory visibility across the retailers, brand protection, retailer trade promotions and an integrated BI dashboard that provides real-time actionable insights.
The team said that they have tracked over 500 Mn unique products across 100K retailers in general trade. Over 10 Mn consumers have verified their products using O4S.
Samir Sood, founder, Venture Highway, said, “With businesses focusing on increasing deeper engagement with retailers and end users, obtaining visibility along the supply chain has become more important than ever before.”
O4S counts over 25 prominent companies as clients across India and Middle East Asia. The company is now setting up its offices in Bengaluru and Hyderabad.
Inc42 DataLabs suggests that in the period between January 2014 and June 2018, Indian SaaS startups raised $2.79 Bn across 520 deals. Expected to reach $1 Bn by 2020, the Indian SaaS/enterprise software market currently accounts for 9% of all software sales. It is expected to cross $50 Bn in the next 10 years, according to a report by Google and Accel Partners in 2016.