ProcMart (ProcMart Mobility, earlier Instaproc) is a Noida-based B2B procurement marketplace that buys from suppliers and resells industrial, electrical, IT and safety items to business clients.

This Startup Deep Dive explains what ProcMart does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

ProcMart in Brief

• What it is: ProcMart is an Indian B2B industrial procurement company based in Noida (some sources say Delhi or Gurugram).
• Who it serves: businesses, institutions, consumers, learners and public-sector buyers.
• Provides managed procurement for business tail spend, covering industrial automation, electrical, mechanical, electronics, IT, abrasives, fasteners, safety items, tools and consumables.
• Offers purchase order management, contract administration, master data and e-catalog management, compliance tracking and market intelligence.
• Operates in over 30 Indian cities and says it is expanding to Malaysia and Indonesia (company site).
• Funding: Reports differ: about $43M (one database) versus about $13M (another).

ProcMart Quick Facts

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is ProcMart?

ProcMart operates in the B2B industrial procurement space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to ProcMart.

• Provides managed procurement for business tail spend, covering industrial automation, electrical, mechanical, electronics, IT, abrasives, fasteners, safety items, tools and consumables.
• Offers purchase order management, contract administration, master data and e-catalog management, compliance tracking and market intelligence.
• Operates in over 30 Indian cities and says it is expanding to Malaysia and Indonesia (company site).
• Product sales made up 98% of FY24 gross revenue, services the rest.

The Origin Story of ProcMart

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

• Founders: Anish Popli.
• Founded in 2015 by IIM Lucknow alumnus Anish Popli; one database says Pratik Potnis and Saheel Joshi co-founded the predecessor Instaproc.
• The startup was rebranded as ProcMart.
• In May 2025 finance and strategy head Sachin Jain was reportedly elevated to co-founder.

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the B2B industrial procurement sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

• 2015: Founded (as Instaproc, later ProcMart).
• 2016: Angel and seed rounds, amounts undisclosed.
• Nov 2022: $10M Series A led by Sixth Sense Ventures; IndiaMART is an investor.
• Mar 2024: Rs 25 crore ($3M) pre-Series B from Sixth Sense Ventures.
• May 2024: $30M Series B.
• FY24: gross revenue up over 200% to Rs 621.5 crore.
• FY25: revenue reportedly Rs 536.6 crore by one data page.

ProcMart Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

• 2016: Angel and seed, undisclosed.
• Nov 2022: Series A, $10M, Sixth Sense Ventures.
• Mar 2024: Pre-Series B, Rs 25 crore, Sixth Sense Ventures, priced near Rs 275 crore valuation (estimate).
• May 2024: Series B, Rs 246 crore ($30M); Fundamentum Rs 102.5 crore, Edelweiss Discovery Fund Rs 86.1 crore, Paramark KB Fund Rs 57.4 crore.

How Does ProcMart Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to businesses, institutions, consumers, learners and public-sector buyers, sales cycles and contract size matter as much as headline growth.

• Buys from suppliers and resells to clients as an intermediary.
• Charges commission on sales across categories and SKUs.
• Charges platform and solution usage fees.
• Describes its approach as a plain vanilla procurement-based model.

The Numbers: ProcMart Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

• FY23: gross revenue Rs 206.07 crore, profit Rs 1.68 crore.
• FY24: gross revenue Rs 621.5 crore (Rs 624.3 crore with interest income), total expenses Rs 623.4 crore, profit Rs 73 lakh (down 56.5%); another data page shows a small loss of Rs 7 lakh, so reports differ.

Market Opportunity for ProcMart

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising digital adoption, cloud and mobile penetration, growing enterprise technology spending, government digitisation programmes and a deep pool of engineering talent. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

• India's B2B tail-spend procurement for industrial goods is fragmented.
• Competes with larger B2B industrial platforms.

Technology and Product at ProcMart

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are product quality, data and integration depth, security, scalability and the speed of shipping improvements.

• Procurement platform with catalogue, purchase order and contract management modules.

Team and Culture at ProcMart

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

• Anish Popli, founder and CEO, holds 29.45% after Series B.
• Sixth Sense Ventures holds 21.16% and IndiaMART 12.85% after Series B.

ProcMart Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

Risks and Challenges for ProcMart

• Very thin margins; profit near break-even.
• FY25 revenue reportedly declined.
• Trading model with high cost of materials (93% of expenses in FY24).
• Founder, HQ and funding totals differ by source.
• Competition: low barriers to entry and well-funded rivals can compress pricing and slow growth.
• Funding risk: technology businesses often burn cash before reaching profit and depend on investor appetite.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

ProcMart Growth Outlook: What to Watch

• Series B funds aimed at expansion, including Southeast Asia (company site).
• Profitability claims and revenue trajectory need FY25 confirmation.
• Key indicators: recurring revenue, customer retention, gross margin, customer acquisition cost and runway.
• Funding position: Whether ProcMart can reach its next milestone before needing new capital.
• Regulation: Changes from data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Industry Context: Where ProcMart Fits

India's technology startup ecosystem is one of the largest in the world, supported by cheap data, a large base of smartphone users, digital public infrastructure and a deep engineering talent pool. Companies now build for education, software, mobility, logistics, agriculture, defence, media and more, selling both to Indian customers and abroad.

Durable technology companies usually combine a clear customer problem with repeatable distribution and disciplined unit economics. Growth funded only by spending tends to fade, while products that customers keep using and paying for build compounding advantages.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for ProcMart

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for ProcMart.

Bull case

• A large and growing base of digital users and businesses expands the addressable market.
• Recurring revenue and strong retention can compound growth.
• Selling into global markets widens the opportunity beyond India.

Bear case

• Heavy competition can compress pricing and margins.
• Dependence on external funding can force painful cost cuts.
• Regulation or platform changes can disrupt a product quickly.

Lessons Founders and Investors Can Take from ProcMart

Studying a company in the B2B industrial procurement space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about ProcMart.

• Solving a clear, frequent customer problem matters more than adding features.
• Retention and repeat usage are better health signals than sign-ups.
• Disciplined spending extends runway and keeps options open when funding tightens.
• Distribution, not just product quality, decides who wins in crowded markets.
• Building trust through data protection and reliability is part of the product.

How to Evaluate ProcMart as a Startup

• Customer clarity: Can ProcMart name its customer and the problem it solves in one sentence?
• Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
• Economics: Check whether margins improve as volume grows.
• Execution: Compare announced timelines with what has actually been delivered.
• Funding runway: Estimate how long current capital lasts at the present spending rate.
• Regulatory standing: Confirm required approvals are in place.
• Customer concentration: Check whether a few customers account for most of the revenue.
• Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

ProcMart is part of India’s growing B2B industrial procurement ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

• Clear customers and repeat demand matter more than announcements.
• Regulation and capital needs shape how fast a startup in this sector can grow.
• Track a few leading indicators over time rather than one headline metric.

ProcMart FAQs: Frequently Asked Questions

What is ProcMart?

ProcMart (ProcMart Mobility, earlier Instaproc) is a Noida-based B2B procurement marketplace that buys from suppliers and resells industrial, electrical, IT and safety items to business clients. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded ProcMart?

ProcMart was founded by Anish Popli, and the company reports a founding year of 2015.

How much funding has ProcMart raised?

Reports differ: about $43M (one database) versus about $13M (another). Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does ProcMart make money?

ProcMart earns revenue from its B2B industrial procurement products and services sold to businesses, institutions, consumers, learners and public-sector buyers. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of ProcMart?

Reported rivals include Moglix, Infra.Market, Zetwerk, OfBusiness. See the competitor comparison above for how they differ.

What are the main risks for ProcMart?

Main risks include competition: low barriers to entry and well-funded rivals can compress pricing and slow growth, funding and capital needs, competition and regulation by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules. This is educational content, not investment advice.

Related Startup Deep Dives: Chalo — FY24 revenue Rs 149.8 crore, loss Rs 135.7 crore; raised $57 million Series D in 2023 | SurveySparrow — FY25 revenue Rs 72.2 crore, up 53 percent, with profit after tax of Rs 7.5 crore. Browse the full Startup Deep Dive series.

Source

Source: Publicly available data, published reports, industry research, and other credible sources.