PE Fund Investments
B2B portal for supply chain solutions ProcMart raises $30-M led by Fundamentum
ProcMart, an online B2B marketplace focused on supply chain solutions, has attracted USD 30 million led by Fundamentum Partnership along with the Edelweiss Discovery Fund. Paramark Ventures from South Korea also participated in the round, joining existing investors such as Sixth Sense Ventures and IndiaMART.The funds raised will be used by ProcMart to pursue strategic acquisitions. Additionally, ProcMart plans to venture into biofuel and packaging, while also expanding its distribution network. The new capital will also be allocated for talent acquisition, technology development, and establishing a presence in new regions across India, Southeast Asia, and Africa.Founded in 2015 by Anish Popli, ProcMart’s tech platform provides solutions for indirect sourcing needs, including vendor consolidation, inventory management, digital procurement, expense tracking, and logistics management. The company has relationships with top-tier global MNCs and domestic companies across various product categories.
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