O4S, a supply chain platform that operates on a software-as-a-service (SaaS) model, on Monday said it has raised $6 million (around Rs 45 crore) as part of its Series A funding round led by Think Investments.
O4S, which is operated by Evato Technology Pvt. Ltd, will use the fresh capital to boost its operations across North America and Southeast Asia, and expand its enterprise customer base to over 500 and headcount to over 200.
The startup was founded in 2017 by Divay Kumar and Shreyans Sipani. Its platform -- O4S Enterprise SaaS -- helps manufacturing companies bring visibility and automation in their supply chains. Its major clients include ITC, Coca Cola, Honeywell, AkzoNobel, and Mondelez.
The Gurugram-based startup will also focus on horizontal expansion of products application which will benefit their existing clientele, too.
O4S' cofounder Kumar said that the coronavirus pandemic has compelled companies to work towards bringing more visibility and digitization into supply chain processes which has meant more opportunities for the startup.
“A key learning from the COVID-19 pandemic is the need to improve supply chains around the world, and companies like O4S are leading in this effort," said Shashin Shah, managing partner at Think Investments.
Prior to this funding, O4S had raised $2.1 million (Rs 14.35 crore at current exchange rates) in a pre-Series A funding from Venture Highway in July 2019.
US-based Think Investments has been actively investing in India. Since 2013, Think Investments has made around $1 billion worth of bets in Indian companies as of February 28, 2021, including early-stage investments in Dream11, PharmEasy and Chaayos; growth capital investments in National Stock Exchange and Experian PLC; and public investments in Bajaj Finance, Laurus Labs and Radico Khaitan.
Earlier in March, Think Investments partnered with Elevation Capital, formerly SAIF Partners, for a blank-cheque firm that filed for a US listing.