ProcureYard, a Gurugram, India-based AI-driven B2B procurement platform, has raised $1.72 million in seed funding.
Investors
The round was led by Powerhouse Ventures, with participation from Java Capital, 2am VC, and angel investors, including Tracxn's Abhishek Goyal and GSF's Rajesh Sawhney.
Powerhouse Ventures is a venture capital (VC) fund focused on early-stage technology companies in the US and India. The fund is based in Singapore.
ProcureYard Use of Funds
The company plans to use the funds for product development and working capital, while also expanding its AI-driven platform.
About ProcureYard
Founded in 2023 by Anshu Kandhari, Pankaj Bisht, Somdutt Parashar, and Tushar Agarwal, ProcureYard is a raw material procurement platform for construction, manufacturing, and infrastructure supplies. Based in Gurugram, India, ProcureYard operates across more than 20 states and has a network of over 200 suppliers.
Funding Details
Company: ProcureYard, Inc.
Raised: $1.72M
Round: Seed Round
Funding Month: January 2025
Lead Investors: Powerhouse Ventures
Additional Investors: Java Capital, 2am VC, Abhishek Goyal, Rajesh Sawhney
Company Website: https://procureyard.com/
Software Category: AI B2B Procurement
Source: https://inc42.com/buzz/b2b-procurement-startup-procureyard-bags-funding-led-by-powerhouse-ventures/