Get All Access for $5/mo

ProcMart Raises $10 Million In Series A Funding Round The latest round of funding will be deployed towards international expansion, strengthening vendor partnerships and upgrading technological and warehousing capabilities

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

A B2B procurement marketplace ProcMart has raised $10 million in Series A funding round led by Sixth Sense Ventures. In order to secure these funds, Sequitur Advocates provided ProcMart with legal counsel while keeping in mind the company's growth strategy. The latest round of funding will be deployed towards international expansion, strengthening vendor partnerships and upgrading technological and warehousing capabilities.

"With consistent growth and profitability over the past few years, ProcMart has emerged as a strong player providing an end-to-end digital ecosystem for indirect procurement to leading MNCs and domestic enterprises. Sixth Sense has a strong track record of partnering with B2B enablers and helping them scale leveraging their ecosystem connects. We are excited to have them partner with us as we embark upon the next leg of growth," said Anish Popli, founder and CEO, ProcMart.

The company currently has 13 offices in India and one overseas in Malaysia, all of which are supported by its own cloud platform. By the end of 2022, the company plans to launch white label items under the label in the PPE categories. Currently, it has forayed into packaging and is looking to expand its offerings to include construction equipment as well, claimed by the company in a statement.

"ProcMart aligns well with our thesis of betting on first generation founders, creating disruptive businesses in the high potential MRO category in India. The Indian market is relatively nascent but poised for massive disruption given the strong manufacturing potential and growing focus on organising non-core spends. We see ProcMart as a great opportunity to leverage this disruption in the otherwise unorganised and fragmented MRO industry in India. Super stoked to have Anish and ProcMart on board with this investment," said Nikhil Vora, founder and CEO, Sixth Sense Ventures.

Founded in 2015 by Anish Popli, ProcMart is an enterprise focused MRO aggregator with a tech-enabled digital platform which provides supply chain solutions to empower businesses.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

Business News

'You Own Nothing Here on Social': Meta Outage, Looming TikTok Ban Has Creators Questioning How Much of Their Business They Really Control

With repeated tech outages and a possible TikTok ban on the horizon, creators are looking for new ways to influence. Turns out, one old-school way still reigns supreme.

Leadership

I've Spent 37 Years in Business — Here's How I Beat the Odds and Stayed Ahead

For over thirty years, I have led a successful media production and communication consulting company. Only 25% of new businesses survive for 15 years or more, so I have beat the odds. But having staying power is not a matter of luck.

Growing a Business

How Connecting With the Right Audience Drives Long-Term Business Success

Here's how targeted lead generation can help you unlock higher conversions, stronger brand loyalty and scalable growth.