B2B marketplace IndiaMART has invested ₹7.5 crore in Truckhall Pvt Ltd (Superprocure) to purchase compulsorily convertible debentures through its wholly-owned subsidiary Tradezeal Online Pvt Ltd.

IndiaMart had previously led the seed investment round of Superprocure, in which it had invested ₹9.68 crore as primary capital, and had purchased existing investor securities worth ₹1.33 crore via a secondary share purchase.

Superprocure is an integrated SaaS logistics platform that digitises the entire freight sourcing and   dispatch monitoring system of the logistics department of an organisation. It allows logistics departments to find the best possible rates through a transparent bidding and auction structure, thus saving costs.

SaaS product

In a statement, Dinesh Agarwal, Founder and CEO of IndiaMART, said: “Last year we led the seed investment round into Superprocure based on our confidence in the team’s expertise and ability to develop a unified SaaS product which allows enterprises to bring all stakeholders on one platform, and manage all parts of their logistics operations. Since then, the team has validated the product, and marquee enterprise customers across industries are now relying on the platform to reduce freight costs and improve supply chain efficiencies”

The unified platform offers full and real-time visibility to all events across the entire dispatch cycle from indenting to delivery through alerts, dashboards and reports IoT decision making easier.

Anup Agrawal, CEO and Co-founder of Superprocure, said: “We are excited to double down on our partnership with IndiaMART, and are looking forward to utilising their expertise and funding to help us enhance the product and reach more enterprises.”