Centriti, a B2B e-procurement platform, has raised Rs 6 crore in a funding round led by Emergent India Ventures. The round also included participation from Atrium Angels, Alluvium Capital, Venture Garage, CoralBay Ventures, HOF, and Brigade Group.
The new funds will be used to enhance technological capabilities, reduce service time, and expand into new geographies. Centriti, founded in 2022 by Daljeet Singh, leverages mid-mile logistics, warehousing, and AI-driven inventory management solutions to help hotels and restaurants reduce costs, minimize waste, and improve operational efficiency. The platform’s integrated inventory software automates tracking and replenishment while providing analytics and forecasts for informed decision-making.
Centriti streamlines procurement by consolidating all needs into one efficient system, enhancing operational efficiency and reliability for hospitality businesses. The Delhi-based startup currently works with prominent hospitality brands such as Taj Hotels, Oberoi Hotels, Accor Group, Barbeque Nation, and Chai Point. It operates in Delhi, Bengaluru, and Jaipur, with plans to expand to Goa, Hyderabad, Kochi, and Chennai over the next two years.
Daljeet Singh noted that these seven cities represent about 35% of the large hotel market in India, providing a significant target audience for their platform. He mentioned that Centriti is currently at a Rs 2 crore monthly run rate (MRR) and aims to double this in the next two months, targeting Rs 4 crore by September and Rs 6 crore MRR by December 2024, with plans to scale up 10x over the next two years.
Karan Mittal, general partner at Emergent India Ventures, highlighted Centriti’s innovative approach and potential to revolutionize distribution and mid-mile logistics in the HoReCa (hotel, restaurant, and catering) industry through its AI-driven procurement platform.