ProcMart, India based online marketplace for office related products has raised an undisclosed amount of funding in pre series A round from IndiaMart. The raised funding will be used to make the technology more robust along with hiring manpower in all tier 1 cities of the country.
Started in 2015 by the trio of Saheel Joshi, Anish Popli and Pratik Potnis, ProcMart is an online Web application catering to the B2B needs of customers. It lets the users post their bulk requirement of office related furniture and accessories and then the sellers can reach out to them with the quotes.
The whole market is competitive on the basis of standardised rates, however, ProcMart employees a quotation based model where the buyers usually end up getting the required products at a very cheaper rate.
Speaking on the development, Saheel Joshi, Co-Founder ProcMart stated that the market is saturated with the traditional sellers selling things at a standard rate. At that time, ProcMart is selling products at a cheaper rate with good discounts and this approach is letting them target customers from all sorts of sections including SMEs to big Enterprises and MNCs.
ProcMart has also been working with a lot of other startups in order to provide them innovative solutions.
Considering the last 6 months, ProcMart has received over 8000 queries on the platform and provided over 20000 quotations. The average order size is INR 55,000.
Prior to this, the startup had raised an undisclosed amount of funding from Dinesh Agarwal, Founder ceo, IndiaMart.