ProcMart, an online B2B marketplace specialising in supply chain solutions, has raised $30 million (about ₹250 crore) in Series B funding led by Nandan Nilekani and Sanjeev Aggarwal’s VC fund, Fundamentum Partnership, and Edelweiss Discovery Fund. 

The round also saw participation from South Korea-based Paramark Ventures. The company’s existing investors include Sixth Sense Ventures and IndiaMART. 

ProcMart is planning to utilise the funds to explore strategic acquisitions to augment its market leadership and enhance client offerings. The strategic acquisitions will enable ProcMart to further optimise backward integration of the supply chain for businesses as well as expand its contract manufacturing capabilities, per the company.

Anish Popli, CEO & Founder, ProcMart, said, “With the rise of centralised procurement and a shift towards optimising non-core expenditures, the Indian MRO industry is on the brink of a significant transformation. Owing to our established credibility and robust infrastructure, we are well-positioned to capitalise on this market opportunity.”

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The company is also set to enter newer industries beyond MRO consumables such as biofuel and packaging, expand its distribution network in India and strengthen international operations in Southeast Asia. The capital raised will also be deployed towards talent acquisition, technology and building footprints in newer regions in India and globally.

Founded in 2015 by Anish Popli, a first-generation entrepreneur and an alumnus of IIM Lucknow, ProcMart enables large enterprises to connect with numerous vendors for their indirect purchases through its easy-to-use interface.

ProcMart’s tech platform offers comprehensive and end-to end solutions for indirect sourcing requirement right from vendor consolidation, inventory management, digital procurement, expense tracking to logistics management. 

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