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.
ProcMart Secures $30 Million Series B Funding to Revolutionize B2B Supply Chain Solutions
ProcMart Secures $30 Million Series B Funding to Revolutionize B2B Supply Chain Solutions ProcMart, a prominent B2B digital marketplace specializing in supply chain solutions, has announced a major milestone with the closure of a $30 million Series B funding round. The investment, led by Fundamentum Partnership and Edelweiss Discovery Fund, along with participation from Paramark Ventures, signifies a significant vote of confidence in ProcMart’s vision and capabilities.
Founded in 2015, ProcMart has established itself as a leader in facilitating seamless connections between large enterprises and vendors for their indirect purchases through its innovative tech platform. With a focus on providing a digital ecosystem for indirect procurements, ProcMart offers a comprehensive suite of solutions ranging from vendor consolidation to inventory management and logistics.
The Series B funding will be instrumental in supporting ProcMart’s strategic initiatives, including expansion into new industries, enhancing supply chain integration, and talent acquisition. Anish Popli, CEO and Founder of ProcMart, expressed his excitement about the partnership with the new investors, emphasizing the company’s commitment to revolutionizing the Indian MRO industry and optimizing non-core expenditures.
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Venturing beyond its core offerings in MRO consumables, ProcMart aims to diversify into sectors such as biofuel and packaging, reflecting its dedication to sustainability and anticipation of future market needs. Sachin Jain, CFO of ProcMart, highlighted the company’s dedication to innovation and sustainability, stating their commitment to addressing future market demands.
Prateek Jain, Principal at Fundamental, underscored the alignment between ProcMart’s mission and Fundamental’s investment thesis, praising ProcMart’s impressive growth trajectory and profitability over the last three years. With operations across 20 Indian cities and international presence in Malaysia and Indonesia, ProcMart is poised for further expansion and innovation in the B2B supply chain industry.
As ProcMart embarks on its next phase of growth, the Series B funding represents a significant milestone in its journey towards transforming the procurement landscape and delivering sustainable value to its customers and stakeholders.
