Latest news with #ArteriaTechnologies
Time of India
4 days ago
- Business
- Time of India
ETtech Deals Digest: Startups raise $62 million this week, down 34% on-year
Startups raised around $62.1 million during the week of July 5 to 11, marking a 34.3% drop from the $94.5 million raised during the same period last year, according to data from amount also marked a 72% decrease over the $221.4 million raised last activity, too, remained muted this week, with 16 transactions recorded during the period. This was nearly half of the 30 deals seen in the corresponding week last year. Khetika : Mumbai-based healthy foods company Khetika raised $18 million in a funding round from Narotam Sekhsaria Family Office and Anicut Capital. The round also saw participation from existing investors such as Incofin India Progress Fund, Rajasthan Gum Pvt. Ltd. and Shree Ram India Gums Ltd. Arteria Technologies : Supply chain collaboration software-as-a-service (SaaS) and financing platform Arteria Technologies raised around $11.7 million from ICICI Venture, the investment arm of ICICI Bank , in a funding round. The funding was a mix of primary and secondary capital. InPrime Finserv : Tech-enabled non-banking finance company (NBFC) InPrime Finserv raised around $6 million in a funding round led by Pravega Ventures. The round witnessed participation from existing investors Z47, InfoEdge Ventures, and Kettleborough VC.
Entrepreneur
5 days ago
- Business
- Entrepreneur
Arteria Technologies Raises INR 100 Cr in Series B from ICICI Venture
The fresh capital will be used to strengthen its team, enhance platform capabilities, and improve financing access for supply chain partners. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Arteria Technologies, a Bengaluru-based SaaS and embedded finance company, has raised INR 100 crore in Series B funding from ICICI Venture. The funding will support Arteria's efforts to scale its operations, expand into new markets, and invest in artificial intelligence-driven product development. The company said the capital will be used to strengthen its team, enhance platform capabilities, and improve financing access for supply chain partners. "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." Arteria Technologies was founded in 2007 by Parag Sushilkumar Jain and Sriram Kanuri. The company offers FinessArt, a SaaS platform focused on supply chain finance and operations. Its services streamline supply chain processes, automate operational tasks, and provide digital access to financing for suppliers and distributors. Working with over 100 large enterprises, Arteria serves clients across sectors such as fast-moving consumer goods, 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. "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." ICICI Venture, based in Mumbai and established in 1988, is a subsidiary of ICICI Bank. It focuses on growth equity investments in mid-market businesses. In 2018, ICICI Bank and its investment arm had jointly acquired a minority stake in Arteria for INR 8.68 crore in cash.
