Crest Raises Pre-seed Funding From IAN, Inflection Point Ventures
Crest, a Bengaluru-based software-as-a-service (SaaS) firm, has raised $800,000 (Rs 6.6 crore) in pre-seed funding co-led by Indian Angel Network and Inflection Point Ventures.
Faad network and a host of angel investors, including Sahil Barua and Kapil Bharati (Delhivery), Saahil Goel, Gautam Kapoor, Vishesh Khurana and Akshay Ghulati (Shiprocket), among others, also participated in the funding round.
As per the startup, the raised funds will be used for product development and scaling up its operations.
Crest | Automated Demand Planning Tool
Founded by Rahul Vishwakarma, Akhil Kumar and Yogesh Byahatti in 2022, Crest is an AI-powered supply chain platform that provides direct-to-customer (D2C) and small and medium businesses with tools for demand forecasting, inventory planning, and more.
It helps D2C brands streamline their supply chain through inventory planning and replenishment planning to escape out of stock and fulfill every order.
Speaking about the development, Rahul Vishwakarma, Co-founder of Crest, said,
“Crest has improved serviceability, reduced out-of-stock situations and automated supply chain operations. Notable customers include Samosa Party, Wow Skin, Swiss Beauty, Pro Nature and Sleepwell, among others.”
The Bengaluru-based startup uses artificial intelligence (AI) and machine learning (ML) tools to predict demand, automate purchase planning and distribution planning.
The funding round was co-led by early-stage venture capital firm Indian Angel Network, which has invested Rs 900 crore in more than 200 companies across sectors like SaaS, direct-to-consumer (D2C) and fintech, among others. Last year, IAN invested $10 million (around Rs 85 crore) in 52 companies with an average ticket size of Rs 25 lakh to Rs 50 crore.
Meanwhile, despite the funding winter, the SaaS sector has seen significant investment activity. Recently, ChronicleHQ Inc, which operates software-as-a-service (SaaS) presentation platform Chronicle, raised seed funding of $7.5 million (around Rs 62.09 crore).
A few days back, SaaS firm GetWork raised pre-Series A funding of $846,340, co-led by Samarthya Investment Advisors and Artha Venture Fund. Also, Hatica raised seed funding of $3.7 million (Rs 30.56 crore) led by Sequoia Capital India’s accelerator programme Surge.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.