ProcureYard, a B2B commerce platform for raw materials based in Gurugram and Bengaluru, has secured $1.72 million in seed funding led by Powerhouse Ventures.
The funding round also included participation from Java Capital, 2am VC, and prominent angel investors such as Abhishek Goyal (Co-founder of Tracxn) and Rajesh Sawhney (Founder of GSF).
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The company has achieved a significant milestone of ₹300 crore in Annualized Revenue Run Rate (ARR) while growing sixfold and turning profitable. ARR represents the annual revenue level projected based on the company’s current performance over 12 months.
Sri Peddu, General Partner, Powerhouse Ventures, states, “Procureyard is redefining the digital transformation of a traditional, fragmented sector with its vertical AI approach. This is a massive industry plagued by supply chain inefficiencies, and the time is ripe for streamlining procurement processes and delivering unparalleled value to SMEs. Their ability to achieve profitability so early in their journey, coupled with their rapid growth, is a clear indicator of their strong execution capabilities and market demand. With their innovative AI agents already solving critical inefficiencies, we are thrilled to support ProcureYard as they expand into new verticals. The team’s vision and focus on profitability set them apart in a competitive market, and we believe they are well-positioned to become a market leader in this space.”
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The newly secured funding will be strategically utilized for product development and managing working capital. ProcureYard aims to expand its success in the metals sector by replicating its custom-built conversational AI platform to other raw material categories. Additionally, the company plans to enhance its market presence by scaling its supply chain solutions.
Anshu Kandhari, Co founder & CEO, ProcureYard, says “At Procureyard, we’re using technology to revolutionize 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 tools. Globally, no one offers vertical AI solutions like ours in B2B raw material procurement, and it’s thrilling to witness the transformative impact on our customers and the industry.”
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About ProcureYard
Founded in 2023 by Anshu Kandhari, Pankaj Bisht, Somdutt Parashar, and Tushar Agarwal, ProcureYard is a technology-driven platform revolutionizing the B2B supply chains in the construction industry.
