SAN JOSE, Calif.– In a bridge round to Series A, Schrocken Inc., an enterprise blockchain based SaaS startup, has raised undisclosed funding, which was led by Five Gardens LLC (a group of angels comprising senior executives from the Life Sciences industry & academic thought leaders across the US), and ThinKuvate, an early-stage fund based out of Singapore. Some of their existing investors including Quentelle LLC, also participated in this round. Both of the lead fund groups, Five Gardens LLC & ThinKuvate, are keen to ramp up their investments in deep-tech startups like Schrocken and in transformative technologies.
Teams at ThinKuvate believe that Schrocken was a perfectly-timed investment, considering the tailwinds of ‘Digitizing Supply chain operations’ in the Life Sciences industry. Due to an aggressive push from the highest level of national governments, all Life Sciences manufacturers are investing in enterprise platforms that connect companies with their manufacturing partners and suppliers to enable real-time flow of information, leading to end-to-end visibility. Such digitization will not only make supply chains resilient and robust, but also protect them against risks of every kind including cyber-attacks.
This fresh set of funds will be utilized to bolster Schrocken’s platform capabilities and to expand the company’s footprint across USA and Europe, through accelerated sales and marketing efforts. “The Life Sciences industry is under tremendous pressure to have their drugs, devices and other supplies available throughout, in order to support the overall healthcare system in every country, and we at Schrocken are geared to build and enable a dynamic and collaborative supply chain,” said Yogendra Chordia, Co-Founder and CEO, Schrocken.
Schrocken was co-founded by serial entrepreneurs Yogendra Chordia and Sanjay Kuberkar, the alumni of Indian Institute of Technology (IIT) Kanpur, India.
