Summary
ProcMart, a leading B2B digital marketplace specializing in supply chain solutions, has successfully raised $30 million in a Series B funding round led by Fundamentum Partnership and Edelweiss Discovery Fund, with participation from Paramark Ventures. Founded in 2015, ProcMart aims to streamline indirect purchases for large enterprises through its tech platform, offering services such as vendor consolidation, inventory management, and digital procurement. The funding will support ProcMart’s expansion into new industries, enhancement of supply chain integration, talent acquisition, and technological advancements. With operations across 20 Indian cities and international presence in Malaysia and Indonesia, ProcMart is poised for growth and innovation in the B2B supply chain sector.
B2B Marketplace ProcMart Raises $30M Series B Funding to Fuel Growth and Sustainability
B2B Marketplace ProcMart Raises $30M Series B Funding to Fuel Growth and Sustainability ProcMart, a pioneering B2B digital marketplace specializing in supply chain solutions, has announced a momentous achievement with the closure of a $30 million Series B funding round. Spearheaded by Fundamentum Partnership, led by Nandan Nilekani, and Edelweiss Discovery Fund, this funding marks a significant milestone in ProcMart’s journey towards transforming procurement processes and enhancing supply chain efficiency.
Joining the investment fray is Paramark Ventures from South Korea, signifying the global appeal and recognition of ProcMart’s innovative approach to B2B procurement. This substantial infusion of capital is poised to drive ProcMart’s strategic initiatives, including expansion into new industries, strengthening supply chain integration, talent acquisition, and technological advancements.
Anish Popli, CEO and Founder of ProcMart, expressed his enthusiasm for the partnership with the new investors, emphasizing their shared vision of creating a digital ecosystem for indirect procurements. Popli highlighted ProcMart’s potential to revolutionize the Indian MRO industry by centralizing procurement processes and optimizing non-core expenditures.
ProcMart, established in 2015, has carved a niche for itself by facilitating seamless connections between large enterprises and vendors through its tech-driven platform. Offering a comprehensive suite of functions, including vendor consolidation, inventory management, digital procurement, and logistics management, ProcMart aims to diversify its offerings beyond MRO consumables into sustainable sectors like biofuel and packaging.
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Sachin Jain, CFO of ProcMart, reiterated the company’s commitment to sustainability and innovation, emphasizing their expansion into sectors aligned with future market trends.
Prateek Jain, Principal at Fundamentum, highlighted the synergy between ProcMart’s mission and Fundamentum’s investment thesis, applauding ProcMart’s impressive growth trajectory and profitability over the years.
With operations spanning across 20 Indian cities and international presence in Malaysia and Indonesia, ProcMart stands poised to lead the charge in the evolution of the B2B supply chain industry. As ProcMart embarks on its next phase of growth and innovation, the Series B funding serves as a testament to its commitment to driving sustainable value and revolutionizing procurement practices for its clientele and stakeholders alike.
