Thursday, October 6, 2022
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[Funding alert] IndiaMART invest in Truckhall Private Limited

IndiaMART

B2B marketplace IndiaMART, via its wholly-owned subsidiary Tradezeal Online Private Limited, has made an investment of around Rs 7.5 crores to purchase compulsorily convertible debentures (CCDs) of Truckhall Private Limited (‘SuperProcure’).

The startup said in a press statement that it allows logistics departments to find out the best possible rates through a transparent bidding and auction structure, thereby saving costs.

Kolkata-based Superprocurewas founded in 2017 by Anup Agarwal, Ankit Dudhwewala, Manisha Sharaf, and Varun Biyani, it is a SaaS platform that digitizes the entire freight sourcing and dispatch monitoring system of an organization’s logistics department.

“SuperProcure is an integrated logistics platform for end to end digitalization, automation & collaboration across stakeholders to achieve efficiency, visibility, and resilience across logistics processes. It empowers logistics team to optimise freight cost and service customers better. We are excited to double down on our partnership with IndiaMART, and are looking forward to utilizing their expertise and funding to help us enhance the product and reach more enterprises “, said, Anup Agrawal, CEO and Co-Founder of SuperProcure.

The integrated platform provides complete and real-time visibility for all events throughout the dispatch cycle, from indenting to delivery through alerts, dashboards, and reports that improve collaboration and a control tower that enables on-the-spot decision-making.

“Last year we led the Seed investment round into Superprocure based on our confidence in the team’s expertise and ability to develop a unified SaaS product which allows enterprises to bring all stakeholders on one platform, and manage all parts of their logistics operations. Since then, the team has validated the product, and marquee enterprise customers across industries are now relying on the platform to reduce freight costs and improve supply chain efficiencies. We are excited to partner with the Superprocure team and support them on their next phase of growth”, said, Mr. Dinesh Agarwal, Founder and CEO of IndiaMART.

IndiaMart had earlier led SuperProcure’s seed investment round in April 2022, in which it invested Rs 9.68 crore as primary capital in the company.

About SuperProcure

SuperProcure is a fast-growing SAAS company that provides logistics and supply chain management digitization solutions to manufacturing companies.

At SuperProcure, they strive to create and maintain a well-oiled machine that provides a one-stop solution for all the major logistics troubles. They are centred around their clients and continually learn from them to provide customised yet robust solutions for each one of them.

They have over 50+ satisfied enterprise clients with 100% retention rate. The product brings key stakeholders associated with the planning, dispatch, and delivery of a truckload under a single umbrella.

They boost manpower productivity by 300% with a 67% drop-in truckload processing time via automation of key business activities which in-turns streamlines communication and correspondence across the board.

About IndiaMart

IndiaMART is India’s largest online B2B marketplace, connecting buyers with suppliers. The online channel focuses on providing a platform for buyers, who can be SMEs, large enterprises as well as individuals. Buyers typically gain access to a wider marketplace; diverse portfolios of quality products to chose from and tap a one-stop-shop that caters to all their specific requirements, thereby aiding the discerning buyer to make well-informed choices!

IndiaMART offers a platform and tools to over 12.5 Crore buyers to search from over 7.2 Crore products and get connected with over 65 Lakh reliable and competitive suppliers. Founded in 1999, the company’s mission is ‘to make doing business, easy’.

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