ProcureYard, a B2B commerce platform specializing in raw materials procurement, has raised $1.72 million in seed funding. The round was led by Powerhouse Ventures, with participation from Java Capital, 2am VC, and angel investors including Abhishek Goyal, Co-founder of Tracxn, and Rajesh Sawhney, Founder of GSF.
The Gurugram and Bengaluru-based company has achieved an annualized revenue run rate (ARR) of ₹300 crore, reflecting a sixfold growth while maintaining profitability. ARR estimates a company’s annual revenue based on its current monthly performance, providing a snapshot of its financial health.
Sri Peddu, General Partner at Powerhouse Ventures, highlighted the importance of digital transformation in the fragmented raw materials sector. According to him, “ProcureYard’s vertical AI approach is tackling significant inefficiencies in the supply chain. The company’s early profitability and rapid growth underscore its strong execution and market demand. With innovative AI-driven solutions, ProcureYard is poised to expand into new verticals and lead the market.”
ProcureYard plans to allocate the funds toward product development and enhancing its working capital. The company aims to broaden its footprint beyond the metals sector, leveraging its AI-powered conversational platform to optimize procurement processes for other raw materials. Scaling supply chain solutions and deepening market penetration are also on the agenda.
Anshu Kandhari, Co-founder and CEO of ProcureYard, stated, “We are revolutionizing traditional industries with our AI solutions. Our platform helps SMEs streamline supplier selection, negotiate deals, forecast finances, and derive actionable insights. Unlike any global alternatives, our vertical AI solutions cater specifically to the B2B raw materials sector, driving significant impact for our customers and the industry.”
With a strong foundation and strategic vision, ProcureYard’s latest funding marks a significant step in its journey to becoming a leader in AI-driven procurement solutions.
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By Proptechbuzz
By Ravi Kumar
