Thursday, July 18, 2024

Caret Capital Invests in SuperProcure a SaaS-Based Transport Management System

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Caret Capital,a sustainability fund that invests across Mobility, Distribution and Employment,has invested in Kolkata-based startup SuperProcure.

Started in July 2017 by Anup Agarwal and Manisha Sharaf, SuperProcure is a real-time Transport Management System (TMS) and collaborative platform for manufacturing and infrastructure companies. It has evolved from a freight e-negotiation product to an end-to-end logistics and supply chain platform to enable shippers digitise their manual transport management process.

Team SuperProcure – from left to right – Manisha Sharaf, Varun Biyani and Anup Agarwal

According to Prajakt Raut and Pankaj Bansal, Co-founders and Managing Partners of Caret Capital,“Logistics process automation is a source of competitive advantage for enterprises. Companies recognise that traditional methods of managing enterprise transport requirements are just not relevant for today’s market dynamics and are fast adopting TMS. Given this, SuperProcure’s value proposition has strong tailwinds. They have several large marquee enterprises as their clients, which they have won despite competition from some of the most popular TMS systems globally.”

SuperProcure provides enterprises with instant digitisation of their current manual transport management process. Even if the enterprises have ERPs and TMS, the interactions with over 22 stakeholders involved in the logistics processes are outside the enterprise tech. In such a scenario, SuperProcure’s product provides comprehensive modules for every process, workflow & decision point involved in the transport management activity.

A unique feature of SuperProcure is the engagement of over 11,000+ verified transporters, which enables enterprises to do spot procurement of freight alongside the traditional model of only long-term contracts. This results in not just operational efficiencies but cost savings as well. More importantly, it helps organisations become more nimble in their logistics operations.

Founders Anup Agarwal, Manisha Sharaf and Varun Biyani stated that, “We are in a Digital Economy. People expect orders to be delivered faster and at the best price. Today enterprise success & customer service is directly tied to efficiency in logistics management and real time collaboration across the supply chain. SuperProcure has been playing a critical role in empowering manufacturing organisations with technology to optimise logistics processes. Caret Capital & Lumis Labs are thought leaders in the supply chain and we are very happy to have them as our investors and guide in this journey.This is a validation of the teams effort and our belief that TMS adoption can help optimize ~15% of logistics spent for enterprises. in India alone the potential saving is 1% of India GDP ~ $30billion.”

About Caret Capital

Caret Capital is a sustainability fund that invests across Mobility, Distribution and Employment. Caret 360 is the CXO community initiated by Caret Capital to help startups and industries discover each other.

Caret Capital’s portfolio comprises startups that are transforming three key aspects of the value chain – Goods and Services Supply Chain, Human Capital Supply Chain and Assets and Infra Supply Chain: Stylumia, an AI-enabled demand forecasting platform for global fashion and lifestyle brands; Unstop, a platform for companies to identify, curate, hire and onboard freshers; Omnivio, an omnichannel Control Tower (CT) platform for modern retailers and omni-brands; Celcius, India’s first asset-light cold supply chain solution provider; Xindus, a technology startup that simplifies exports; Tusker, a rural logistics consolidation and distribution platform; Just Deliveries, an intra-city logistics platform for perishable; Conmove, a container logistics platform; Spareshub, a B2B distribution platform for auto spares and accessories; Citrus Freight, Indias 1st container booking platform for perishables; and MoooFarm, a dairy agri-tech startup.

(The above press release has been provided by NewsVoir.)

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