VC Fund Investments
EPC-focused procurement platform ProcureYard attracts $1.7 M led by Powerhouse Ventures
Gurugram-based B2B (business-to-business) procurement startup ProcureYard has raised USD 1.72 million (around INR 14.87 crore) in a seed funding round led by Powerhouse Ventures. The round also saw participation from Java Capital, 2am VC, angel investors like Tracxn cofounder Abhishek Goyal and GSF founder Rajesh Sawhney. The fresh proceeds will be used for product development and working capital management. The brand also plans to use its custom-built conversational artificial intelligence (AI) platform in metals and replicate it to other raw materials.Founded in 2023 by Anshu Kandhari, Pankaj Bisht, Somdutt Parashar and Tushar Agarwal, ProcureYard offers procurement and sale of construction raw materials, excess inventory liquidation, customization services, logistics management and financing options for supply chain optimization and customer relationship management.
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