Total amount raised
₹1.1 Billions
Latest funding date
Location
ProcMart has successfully raised multiple rounds of funding, with the latest being a Series B round. The company offers a range of supply chain solutions, including inventory optimization and procurement services.
Keep reading to explore the intricacies of ProcMart's fundraising journey and the investors backing this innovative platform.
What Is ProcMart?
Founded in 2015, ProcMart is headquartered in Noida, Uttar Pradesh, India. The company was established by Anish Popli, Pratik Potnis, and Saheel Joshi.
ProcMart specializes in providing supply chain solutions, including inventory optimization and procurement services. Their platform helps businesses streamline operations, reduce costs, and improve efficiency.
With a team of 101-250 employees, ProcMart continues to innovate and expand its offerings to meet the evolving needs of its clients.
How Much Funding Has ProcMart Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to kickstart operations and develop the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the initial customer base.
- Series A Round
- Amount Raised: ₹816M
- Date: April 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series A Round
- Amount Raised: ₹816M
- Date: November 2022
- Lead Investors: Sixth Sense Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and solidify market position.
- Series B Round
- Amount Raised: ₹250M
- Date: March 2024
- Lead Investors: Edelweiss Financial Services, Fundamentum, Sixth Sense Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth trajectory and strategic market positioning.
Total Amount Raised: ₹1,882M. Current Valuation: Not publicly disclosed.
Key Investors
- Edelweiss Financial Services
- Details: Edelweiss Financial Services is a leading diversified financial services company in India. They offer a wide range of financial products and services to a substantial and diversified client base that includes corporations, institutions, and individuals.
- Investment Focus Areas: Financial services, asset management, insurance.
- Notable Investments: Not publicly disclosed.
- Sixth Sense Ventures
- Details: Sixth Sense Ventures is a consumer-centric venture capital firm based in India. They focus on investing in high-growth potential companies that offer innovative solutions.
- Investment Focus Areas: Consumer goods, technology, B2B marketplaces.
- Notable Investments: Soothe Healthcare, LEAP India, Hindustan Foods.
- Fundamentum
- Details: Fundamentum is a growth-stage investment firm co-founded by Nandan Nilekani and Sanjeev Aggarwal. They focus on scaling up mid-stage technology companies in India.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: PharmEasy, Spinny, TravelTriangle.
- IndiaMART
- Details: IndiaMART is India's largest online B2B marketplace, connecting buyers with suppliers. The platform focuses on providing a robust and scalable solution for businesses to trade and grow.
- Investment Focus Areas: B2B marketplaces, e-commerce, technology.
- Notable Investments: Vyapar, Shipway, Busy Accounting Software.
What's Next for ProcMart?
ProcMart is poised to capitalize on several promising opportunities, including expanding its service offerings and collaborating with local vendors in the biomass briquettes and pellets manufacturing sector. With a valuation of ₹275 crore, the company is well-positioned to strengthen its market presence and consolidate its position in the B2B supply chain solutions market.
Future fundraising opportunities appear bright, given the company's growth trajectory and strategic initiatives. The recent pre-Series B funding round, which raised ₹25 crore, indicates strong investor confidence. As ProcMart continues to innovate and expand, additional funding rounds are likely to support its ambitious growth plans.
However, challenges such as competition from established players like Udaan and maintaining growth momentum could pose hurdles. Navigating regulatory and market dynamics will also be crucial as ProcMart scales its operations and meets investor expectations.
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