ProcMart Secures $3M in Pre-Series B Funding Led by Sixth Sense Ventures India
ProcMart, a B2B procurement marketplace backed by IndiaMART, has raised $3 million in a pre-Series B funding round led by Sixth Sense Ventures India. This funding marks Sixth Sense Ventures' continued support, making it the largest external stakeholder with a 30% share in ProcMart. Founder and CEO Anish Popli retains a significant 41.76% stake. The investment will fuel ProcMart's expansion efforts, enhancing market presence and service offerings. Established in 2015, ProcMart provides various services such as purchase order management and market intelligence, serving clients like Colgate and Vedanta. The startup aims to further diversify its offerings, recently launching a white-label solution for construction equipment.
Key Points:
- ProcMart, a B2B procurement marketplace, secures $3 million in pre-Series B funding led by Sixth Sense Ventures India.
- Sixth Sense Ventures becomes the largest external stakeholder in ProcMart with a 30% share.
- Founder Anish Popli retains a significant 41.76% stake in the startup.
- The funding will support ProcMart's expansion efforts and enhance its service offerings.
- ProcMart offers services such as purchase order management and contract administration, serving notable clients like Colgate and Vedanta.
- The startup has established a strong presence across India with 13 offices and an international presence in Malaysia.
- ProcMart recently launched a white-label solution for construction equipment to cater to evolving customer needs.
- The investment reflects confidence in ProcMart's growth potential and market positioning.
investnagar.com
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