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ProcureYard raised $1.72 million in a seed round led by Powerhouse Ventures to enhance product development and manage working capital.

Jan 20, 2025•6 months ago

Amount Raised

$1.72 Million

Round Type

seed

GurugramSupply Chain ManagementB2bLogisticsE Commerce

Investors

Rajesh SawhneyAbhishek Goyal2am VcJava CapitalPowerhouse Ventures

Description

ProcureYard, a B2B commerce platform for raw materials, has secured $1.72 million in a seed round. The funding will support product development and working capital management, as the company aims to expand its market presence with innovative supply chain solutions.

Company Information

Company

ProcureYard

Location

Gurugram, Haryana, India

About

ProcureYard is a B2B commerce platform focused on raw materials, offering solutions for procurement, sale, inventory liquidation, and logistics management. Founded in 2023, it aims to enhance market presence using a custom-built conversational AI platform and supply chain solutions. The company has established a vast network of over 200 suppliers, serving more than 200 SMEs in India. ProcureYard claims to have achieved an annualized revenue run rate of Rs 300 crore and aims to reach Rs 3,000 crore in the next 12 to 18 months.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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