Funding News: B2B Commerce Platform 'ProcureYard' bags $1.72 million in Seed Round

Startup: ProcureYard

Founders: Anshu Kandhari, Pankaj Bisht, Somdutt Parashar, and Tushar Agarwal

About us: ProcureYard provides a range of services, including procurement and sales of construction raw materials, liquidation of excess inventory, customized services, logistics management, financing options, and AI-driven supply chain optimization and customer relationship management. The platform aims to simplify procurement for businesses using advanced technology.

Founded Year: 2023

Office: Gurugram

Sector: B2B

Funding Round: Seed round

Investors: Powerhouse Ventures, Java Capital, 2am VC, and prominent angel investors Abhishek Goyal (Co-Founder of Tracxn) and Rajesh Sawhney (Founder of GSF).

B2B commerce platform ProcureYard, focused on raw materials, has raised $1.72 million in its seed funding round.

The funds will be used for product development and working capital management as the company plans to expand its conversational AI platform from metals to other raw materials, enhancing its supply chain solutions.

Currently operating in 20 states, ProcureYard claims to have built a network of over 200 suppliers serving more than 200 SMEs across India.

The company has achieved an annualized revenue run rate (ARR) of 300 crore and reports profitability with a sixfold growth. Looking ahead, ProcureYard aims to reach 3,000 crore in ARR within 12 to 18 months.

Anshu Kandhari, Co-Founder & CEO, ProcureYard, said, “At Procureyard, we’re using technology to revolutionise even the most traditional industries. Our AI agents, designed with deep expertise, deliver unparalleled solutions—helping SMEs find the right suppliers, negotiate deals, forecast finances, and extract actionable insights, all without complex tool."

Website: procureyard.com/