# Procmart

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/procmart

- Industry: Software
- Headquarters: New Delhi, India
- Website: www.procmart.com
- Total disclosed funding: $36M
- Latest round: Series B (Apr 12, 2024)
- Investors on record: 5

## About

Based in Nodia, India, and founded in 2015 by Chief Executive Officer Anish Popli, Instant Procurement Services Private Limited, doing business as ProcMart, operates as a provider of logistic solution for business connecting procurement business-to-business marketplace that connects buyers and sellers. In April 2024, Procmart raised USD 30 million in Series B funding led by Fundamentum Partnership, Edelweiss Discovery Fund and Paramark Ventures along with Sixth Sense Ventures and IndiaMART also participated in the round. 

Procmart provides a variety of solutions and features such as MRO Strategic Sourcing, Indirect Spend Management, Vendor Managed Inventory, inventory analysis, inventory forecasting, decentralization and securing operations, procurement support, and purchase analysis. As of 2024, the firm’s client base includes LG, Britanna, Cargill, Mondelez, Dana, Vedanta, legrand, Colgate, Harman, and Brembo. As of 2024, the firm provides its services such as automotive, pharmaceutical, oil and gas, healthcare, biomass, FMCG, consumer durables, and many more. 

The company plans to use the funding from April 2024 to further optimize backward integration of the supply chain for businesses as well as expand its contract manufacturing capabilities.

## Funding rounds

- Series B, Apr 12, 2024, $29M — IndiaMART InterMESH Ltd., Sixth Sense Ventures, Edelweiss, The Fundamentum Partnership, Paramark Ventures
- Series A, Nov 18, 2022, $6.1M — Sixth Sense Ventures

## Investors

- Sixth Sense Ventures (https://capitalatlas.ai/funds/sixth-sense-ventures) — Series A, Series B
- IndiaMART InterMESH Ltd. — Series B
- Edelweiss (https://capitalatlas.ai/funds/edelweiss) — Series B
- The Fundamentum Partnership (https://capitalatlas.ai/funds/the-fundamentum-partnership) — Series B
- Paramark Ventures (https://capitalatlas.ai/funds/paramark-ventures) — Series B