Aerchain, an AI tech startup focused on the procurement segment, has raised $3 million in its pre-Series A round co-led by IndiaMart and Season Two Ventures.
According to the Bengaluru-based startup, the fresh capital will be used for product development, market expansion and hiring new talent.
Led by Harsha Kadimisetty and Himavanth Jasti, Aerochain automates the entire chain of procurement which includes segments such as financing and accounting, sourcing engine, logistics, purchase requisitions, order management.
The startup claims to be generating a revenue of around half a million dollars in ARR and says it is EBITDA and cash flow positive. The firm believes its platform can be used in multiple sectors such as pharmaceutical, manufacturing, food and beverages to name a few with the target being the enterprise customers.
Being a part of the accelerator programme by Lumis Partners, JioGenNext and AblnBev, Aerchain has clients from segments such as beverage, real estate and automotive.