B2B marketplace ProcMart bags $30 million in funding
ProcMart, an online business-to-business (B2B) marketplace specialising in supply chain solutions, has raised $30 million (about Rs 250 crore) in an equity funding round led by Infosys cofounder Nandan Nilekani’s venture fund Fundamentum Partnership and Edelweiss Discovery Fund. The round also saw participation from South Korea’s Paramark Ventures.
The funds will be used for exploring strategic acquisitions for backward integration, enhancing client offerings, investing in talent acquisition and technology, and expanding presence in new markets within India and globally.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisit“We are looking to strengthen ourselves in Southeast Asia. We want to increase our presence in India, expanding our portfolio to around 35 locations in the next one and a half years,” said founder and chief executive Anish Popli.
ProcMart expects its overseas business to contribute 20% of revenue in the next three years. The company currently has operations across 20 cities in India, and internationally in Malaysia and Indonesia. It serves about 70 clients including companies like Colgate, Cadbury, PepsiCo, Coca-Cola, and Brembo.
Founded in 2015, ProcMart allows large enterprises to connect with vendors for their indirect purchases. In the next 12
