SS Supply Chain Solutions Secures Rs 31 Crore Funding from Existing Investor

Preeti Bali / 7:02 am / May 14, 2024

SS Supply Chain Solutions (3SC), a leading logistics solutions provider headquartered in Gurugram, has secured fresh funding of Rs 31 crore (approximately $4 million) from its existing investor, GEF Capital’s South Asia Growth Fund. This marks the company’s first investment round in 2024.

Investment Details and Strategic Use of Funds

According to regulatory filings accessed from the Registrar of Companies, 3SC’s board of directors approved the issuance of 31,00,000 compulsory convertible preference shares at Rs 100 each to raise the aforementioned capital. The company plans to utilize these funds to fuel its growth and expansion initiatives, as strategically determined by the board.

Continued Support from GEF Capital

The regulatory filings further reveal that GEF Capital’s South Asia Growth Fund’s ownership stake in 3SC will increase to 66.27% following the allotment of these new shares. This continued investment from GEF Capital underscores their confidence in 3SC’s potential and hints at a possibility of a full acquisition in the coming years.

3SC: A Provider of Comprehensive Supply Chain Solutions

Established in 2012 by Lalit and Sarita Das, 3SC caters to a wide range of industries, including pharmaceuticals, healthcare, industrials, FMCG (Fast-Moving Consumer Goods), FMCD (Fast-Moving Consumer Durables), and e-commerce. Their service offerings encompass both traditional supply chain management solutions and advanced supply chain analytics designed to optimize business operations for their clients.

Company Profile and Recent Performance

3SC boasts a team of over 100 data scientists and has served more than 75 clients, facilitating over 20,000 transactions to date. However, their financial performance in FY23 shows a marginal increase of only 1.71% in revenue from operations, reaching Rs 130.8 crore compared to Rs 128.6 crore in FY22. Conversely, the company’s consolidated financial statements for the same period reflect a more concerning trend, with losses nearly tripling to Rs 31.5 crore in FY23 from Rs 14 crore in FY22. As of now, 3SC’s audited financial statements for FY24 remain unavailable.

Investor Background: GEF Capital Partners

GEF Capital Partners, the private equity firm behind GEF Capital’s South Asia Growth Fund, recently concluded fundraising for its GEF US Climate Solutions Fund II, securing $325 million. Their portfolio includes investments in companies like Blue Earth Capital, HQ Capital, ODDO BHF, and INGKA Investments. Additionally, they recently entered into an agreement to invest Rs 580 crore in TI Clean Mobility, a company focused on clean mobility solutions.

Despite the recent financial challenges, 3SC’s fresh funding from a committed investor like GEF Capital positions them for potential growth and expansion in the coming years. Continued innovation and strategic utilization of these new resources will be crucial for 3SC to navigate the competitive logistics landscape and improve their financial performance.


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