ProcMart, a leading B2B procurement marketplace, has successfully closed a significant $30 million Series B funding round, spearheaded by prominent investors Fundamentum and Edelweiss Discovery Fund. Joining the investment fray is South Korea-based Paramark Ventures, showcasing the company’s growing global appeal and investor confidence.
This latest financing milestone marks a substantial leap from ProcMart’s previous Series A round, where it secured $10 million led by Sixth Sense Ventures in November 2022, with support from existing investor IndiaMART.
The capital infusion comes at a pivotal moment for ProcMart, fueling its ambitious expansion plans. The company intends to deploy the funds strategically, earmarking resources for exploring potential acquisitions, bolstering its distribution network across India, and fortifying its footprint in Southeast Asia.
Anish Popli, the visionary founder behind ProcMart, outlined the company’s strategic roadmap, emphasizing its shift towards diversification beyond traditional sectors like MRO consumables. ProcMart aims to tap into emerging industries such as biofuel and packaging, broadening its client portfolio and solidifying its comprehensive supply chain solutions provider position.
Since its inception in 2015, ProcMart has revolutionized procurement processes for businesses, offering a suite of services ranging from purchase order management to market intelligence. With a distinguished clientele that includes industry giants like Colgate, Mondelez, Harman, and Vedanta, ProcMart has established itself as a trusted partner for streamlined supply chain operations.
The company’s geographical reach spans 20 cities in India, with international footholds in Malaysia and Indonesia. Leveraging cutting-edge technologies like AI and machine learning, ProcMart is poised to elevate operational efficiency and enhance inventory procurement and management through AI-powered recommendations.
In line with its commitment to innovation and sustainability, ProcMart recently unveiled a strategic collaboration with local vendors in the biomass briquettes and pellets manufacturing sector, underscoring its dedication to fostering sustainable procurement practices.
As ProcMart continues to chart its growth trajectory, fueled by robust funding and unwavering commitment to excellence, the company remains poised to redefine the landscape of B2B procurement, one strategic partnership at a time.
