French startup Monstock, a mobile solution for inventory and flow management, has announced raising €1.6 million to accelerate its business to the next level. This round was its first ever round of fundraising, and was led by Side Capital, and with the support of BPI France and private partners.
Founded in 2016, Monstock is a mobile solution for inventory management. Its founders came up with the idea after seeing first hand the limits of today’s tools, like trackers, paper-based admin and excel. Coming to the rescue, Monstock is a mobile application for quick and easy stock management, helping companies to digitalise without hassle and at a rate consistent with their means. As the tools are accessible by smartphone, businesses are connected 24/7 to their inventory, sales, and warehouse status, allowing them to access product sheets, develop an estimate, or simply follow up an order – even when on the go.
Monstock’s solution can be used by different sized companies, including other SMEs and early-stage businesses. The French team offers tailored solutions to their fellow startups, configuring a solution to the needs and stage of their growth.
This new funding round was led by Paris-based venture capital firm Side Capital, who focuses on early-stage disruptive startups, usually leading seed rounds from €300K to €600K. BPI France, a French investment bank who aims to boost the French economy through entrepreneurship, also participated in the round.
Monstock commented on the investment: “The whole team is proud to be able to revolutionize inventory and flow management and, more broadly, the Supply Chain Management and Logistic sector with a unique and full solution to meet multiple business cases. Thank you to our customers and partners who trust us and allow us to go further!”.