Fintech
Travel Tech
Electric Vehicle
Health Tech
Edtech
IT
Logistics
Retail
Ecommerce
Startup Ecosystem
Enterprise Tech
Clean Tech
Consumer Internet
Agritech
The round also saw participation from Java Capital and 2am VC, along with angel investors - Tracxn cofounder Abhishek Goyal and GSF founder Rajesh Sawhney
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 needs
The Gurugram based startup is planning to utilise fresh funds in product development and working capital management.
AI driven B2B procurement startup ProcureYard has secured $1.72 Mn (around 14.87 Cr) in a seed funding round led by Powerhouse Ventures.
The round also saw participation from Java Capital and 2am VC, along with angel investors – Tracxn cofounder Abhishek Goyal and GSF founder Rajesh Sawhney.
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.
The Gurugram based startup is planning to utilise fresh funds in product development and working capital management. It further plans to leverage its custom-built conversational AI platform.
ProcureYard also claimed to have turned profitable within 18 months of operation and reached INR 300 Cr in ARR (annualised revenue run rate). The statement also mentioned that the startup aims to clock INR 3,000 Cr in ARR in the next 12-18 months.
It is now looking to increase the scope of its custom-built conversational AI by replicating it to other raw materials in addition to metals, the statement added. Besides, it also has a multi-lingual voice agent that understands customer enquiries to match them with suppliers.
“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,” said Kandhari.
“As we prepare for Series A, we’re doubling down on scaling our reach, advancing AI solutions for underwriting, lending and risk mitigation, and continuing to redefine possibilities in this sector,” he added.
ProcureYard is operating in more than 20 states with a network of over 200 suppliers. It claims to serve nearly 200 small and medium enterprises (SMEs) in the country.
The development comes at a time when many startups are integrating AI into their operations. Earlier this month, India got its first unicorn of 2025, NetraDyne, a logistics AI solutions provider. The startup became a unicorn after raising $90 Mn in its Series D funding round led by existing backer Point72 Private Investments.
