Reduce Inventory Costs, Consolidate Suppliers and Improve Operations.
Basic Information
Founded in 2015 by Anish Popli, ProcMart is a procurement portal that connects businesses with each other for indirect procurement of products and services. — like a marketplace for businesses. The startup also offers ancillary services related to procurement such as purchase order management, master data management, e-catalog management for sellers, expenditure tracking, etc.
Indirect procurement means sourcing goods and services that support a business’ operations — essentially a non-core expense, such as office supplies, packaging materials, etc.
ProcMart’s proprietary e-procurement platform helps businesses track their expenses on non-core items, keep track of dwindling inventories so they can order before they run out of supplies, and track their shipments on a singular platform. For sellers, it helps them keep an eye on their sales inventory, analyse purchase methods and consumption models so they’re better able to serve buyers. Earns a commission on every transaction that it enables on the platform, even on the logistics side. Also charges buyers for listing their ‘wanted’ ads, and sellers for prime sales real-estate on the platform.
Legal Name
:
Instant Procurement Services Pvt Ltd
Headquarters
:
Delhi, Delhi, India
Business Model
:
Founding Date
:
2015
No. of Employees
:
101 to 150
Core Team
:
1.
Anish Popli
Founder and CEO
Funding
Detail Round Breakdown
Round 1
$10M
Series Name
:
SERIES-A
Date
:
21st Nov 2022
Investors
:
1.
Sixth Sense Ventures
Logistics
Mobility / Transportation
Marketplace
Logistics
Mobility / Transportation
Marketplace
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Features
Logistics
Mobility / Transportation
Marketplace