IndiaMart Continues Investment Spree, Invests In SaaS Startup Truckhall

Delhi NCR-based B2B marketplace IndiaMART has invested about INR 7.5 Cr in Truckhall (SuperProcure) to purchase compulsorily convertible debentures through its wholly-owned subsidiary Tradezeal Online. 

Truckhall (SuperProcure) would utilise the funds to enhance its product offerings and reach more enterprises in future, according to a statement. 

IndiaMART had led the seed investment round of SuperProcure in April 2021, in which it had invested INR 9.68 Cr as primary capital, and had purchased existing investor securities worth INR 1.33 Cr via secondary share purchase.

SuperProcure (Truckhall) is a SaaS platform that digitises the entire freight sourcing and dispatch monitoring system of the logistics department of an organisation, as per a stock filling. 

It allows logistics departments to find the best possible rates through a transparent bidding and auction structure, thus saving costs.

Founded in 1999 by Dinesh Agarwal and Brijesh Agrawal, IndiaMART connects buyers with suppliers. It aims to make doing business easy. It asserts to have been trusted with 143 Mn buyers, 7 Mn sellers, and has 80 Mn products as well as services on its platform leading to approximately 40 Mn business enquiries every month.

“Last year, we led the seed investment round into SuperProcure (Truckhall) based on our confidence in the team’s expertise and ability to develop a unified SaaS product that 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,” said Dinesh Agarwal, founder and CEO of IndiaMART. 

The unified platform offers full and real-time visibility to all events across the entire dispatch cycle, from indenting to delivery, via alerts, dashboards and reports, which improves collaboration and the control tower that makes the spot decision making easier, the statement claims.

“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 the logistics team to optimise freight cost and service customers better,” said Anup Agrawal, CEO and cofounder of SuperProcure.

Meanwhile, the B2B marketplace invested INR 17 Cr in SaaS-based human resource startup Zimyo in March 2022.

Further, IndiaMART also invested about INR 13.75 Cr in Adansa Solutions, the parent company of Realbooks in February 2022. Realbooks is a cloud-based fintech startup that helps businesses with easy financial accounting. 

Since IndiaMART’s listing on BSE and NSE in 2018, it has invested in a host of startups including Vyapar, Bizom, Shipway, Legistify, SuperProcure, Aerchain, M1xchange, Easyecom, Fleetx, Industry Buying and BUSY. 

The B2B marketplace competes against new-age tech companies including Udaan, DealShare, among others.

With a 60% market share of the online B2B classified space in India, IndiaMART focuses on providing a ‘360-degree solution’ to Small & Medium Enterprises (SMEs), large enterprises as well as individuals. 

The B2B marketplace is trusted with 143 Mn buyers, 7 Mn sellers, and has 80 Mn products & services on its platform leading to 40 Mn business enquiries every month. 

IndiaMart in Q3 of FY22 ( Oct-Dec) has earned INR 188 Cr from its operations. This is almost an 8% rise from INR 174 Cr, which it posted during the same period in the last financial year i.e., in FY21, as per a report by Inc42.

The company posted an EBITDA margin of 42% to INR 79 Cr in Q3 of FY22 as compared to a 51% margin to INR 88 Cr in Q3 of FY21.