ProcMart Secures $30 Million in Series B Funding

B2B procurement marketplace ProcMart has successfully raised $30 million in a Series B funding round led by Fundamentum and Edelweiss Discovery Fund. The round also saw participation from South Korea-based Paramark Ventures. This funding will fuel ProcMart's strategic acquisitions, expansion of its distribution network in India, and growth in Southeast Asia. The company aims to diversify its client base beyond MRO consumables, targeting industries like biofuel and packaging. Founded in 2015, ProcMart offers supply chain solutions to businesses, including services such as purchase order management, contract administration, and market intelligence. With clients like Colgate and Mondelez, ProcMart has seen significant growth and profitability over the last three years. Leveraging AI and machine learning, the company plans to enhance its operations and efficiency in the coming months.