Bangalore Startup Crest Secures over Rs. 6.5 crores Investment from Leading Industry Figures
Crest, a startup that provides Automated Inventory Planning SaaS based in Bangalore, has raised 800K USD in its pre-seed funding round. The round was led by IAN and IPV, along with participation from notable founders of companies such as Delhivery, Shiprocket, Pickrr, Smytten, Samosa Party, and Sirona, among others.
“Crest is built for D2C e-commerce and is focused on solving the fundamental issue of those businesses, i.e. reducing lost sales opportunities by increasing fill rate and helping optimise inventory through real time demand forecasting. By impacting the core of the business, Crest becomes a CXO priority and is not just another enabling software. In the fast evolving e-commerce and multi-shop retailing real time demand forecasting and inventory management is the need of the hour,” said Shantanu Ghosh & Vidit Nagory, IAN Lead Investors.
“We are excited by what Crest has built and the immense potential of the space, both in India and global markets. Crest is being led by founders who have deep working experience in supply chain & AI and who have seen success in their earlier venture in a similar space catering to large global brands. They are addressing a real need and enabling even small enterprises, access to AI-driven inventory optimisation across multiple channels and demand forecasting ability,” said Ivy Chin, Partner, IPV.
Crest, an automated inventory planning tool, was launched in March 2022 to help Direct-to-Consumer (D2C) brands and Small and Medium-sized Businesses (SMBs) avoid stockouts. It addresses four crucial inventory planning questions, including what to order, when to order, how much to stock, and where to place stock. The tool provides improved serviceability and a reduced risk of stockouts from the first month of implementation. The funding round saw participation from notable investors in the supply chain industry, including Ankit Sethi.
The funds raised by Crest in its pre-seed funding round will be used to expand its product offerings and scale its operations. With the current global economic slowdown, Crest aims to help brands maintain their financial stability by implementing efficient inventory practices to optimize their working capital.
“In less than 12 months, Crest has already onboarded numerous customers from various industries, improving serviceability by up to 95%, reducing out-of-stock situations by up to 90%, and automating supply chain operations. Notable customers include Samosa Party, Wow Skin, Swiss Beauty, Pro Nature, and Sleepwell, among others,” said Rahul Vishwakarma, Co-founder & CEO, Crest.