Funding: ProcMart Raises $10 Mn in Series A

B2B procurement marketplace ProcMart has raised $10 million in its Series A round led by Sixth Sense Ventures.

The latest proceeds will be deployed towards international expansion, strengthening vendor partnerships, and upgrading technology and warehousing capabilities, the company said in a press release.

How to start B2B marketplace AProcMart Startup?

Founded in 2015 by Anish Popli, ProcMart is an enterprise-focused MRO aggregator with a tech-enabled platform. It connects a variety of stakeholders through an easy-to-use interface, to meet demands across various levels of the supply chain.

The company currently has 13 offices in India and one overseas in Malaysia. By the end of 2022, the company plans to launch white-label items under the label in the PPE categories. Currently, it has forayed into packaging and is looking to expand its offerings to include construction equipment as well.

Purchase order management, contract administration, master data management, e-Catalog management, compliance tracking, sourcing support, market intelligence, contracting, tail spend management, KPI, and category management are among the key services offered by ProcMart.

Noida-based ProcMart had raised an undisclosed amount from IndiaMart in 2016. The company’s competitors include several B2B procurement players, including Moglix, Infra.Market, Zetwerk, Ofbusiness, and IndustryBuying, among others.

VC firm Sixth Sense Ventures’ portfolio includes BIRA, The Bombay Shaving Company, Eupheus Learning, AVG Logistics Leap, Toprankers, Prozo, and Paree among others.

Read Also:-

Funding: DINGG Raises INR 3.5 Crore Led By Big Sun Ventures

Betafi Raises $1.3 Mn In Pre-Seed Round Led By Titan Capital

New Leaf Raises INR 6.15 Cr Pre-Series A Funding from Facebook Co-Founder’s Firm Good Ventures

Ark Kapital Raises €15 Mn Acceleration Round Funding

Related

DVARA KGFS Raises $10 Mn in Debt Funding Round

Dvara Kshetriya Gramin Financials (DVARA KGFS), an NBFC operating...

Funding Alert: “Eternz Raises $1.15 Mn in Pre-Seed Funding”

Eternz, a curated vertical marketplace for jewellery, has raised...

Funding Alert: BharatRohan Raises $2.3 Mn in Pre-IPO Round

BharatRohan, an agritech firm focused on drone-based hyperspectral remote...

JIIF Incubated Startup Select Brands Raises 6.5 Cr in Pre-Series A

Select Brands, incubated at the JITO Incubation and Innovation...

Parseable Raises $2.75 Mn in Seed Round from Surge

Bengaluru-based log analytics startup Parseable has raised $2.75 million...