your password has been reset successfully, Please login again.

Procol Tech Obtains INR 6.88 Crore from Blume Ventures and Rainmatter Capital 

Delhi-based Procol will use the funding to scale its procurement platform and begin deploying other applications around it, the company said in its statement. 
BY BEx Bureau
BusinessEx
Jul 18, 2019

Delhi-based Procol will use the funding to scale its procurement platform and begin deploying other applications around it, the company said in its statement.

Indian commodity procurement company, Procol Tech Pvt. Ltd. has obtained INR 6.88 crore in a seed funding round, which is managed by Rainmatter Capital and Blume Ventures, according to a media report.

Delhi-based Procol will use the funding to scale its procurement platform and begin deploying other applications around it, the company said in its statement, as reported by the daily news, VC Circle.

The company is building a full-stack ecosystem for the Indian commodity market, which will help enable access to a transparent information platform, it added.

The companys platform has helped its customers achieve dramatic cost benefits, Co-founder and CEO of Procol, Gaurav Baheti told the daily news.

We are building on this success by adding related optimization tools and intelligence, he added.

The rapid adoption of Procols auction platform by Indias leading Agri buyers and sellers is a clear sign that the platform is fulfilling a long-standing market gap, Managing Partner at Blume Ventures, Karthik Reddy told the daily news.






Please add your Comment
SIMILAR News
December 10, 2019
The intelligence solution provider is reportedly establishing its 4th Indian bureau; this time, the ...More
By Jaspreet Kaur
December 07, 2019
As per the startup, it will employ the funds to increase operations in India and the Middle East via ...More
By Jaspreet Kaur
December 04, 2019
Plastic manufacturing firm, Manjushree Technopack Ltd has lately purchased a majority share in Amrit ...More
By Jaspreet Kaur
December 02, 2019
B2B marketplace, Infra.Market has lately raised INR 143.26 crore in its Series A funding round; Tige ...More
By Jaspreet Kaur
December 02, 2019
The news has come following Chairman and Promoter of Parag Milk, Devendra Shah acquired 200,000 stak ...More
By Jaspreet Kaur
November 30, 2019
The microfinance company, CreditAccess Grameen Ltd proclaimed that it will acquire 100 per cent shar ...More
By Ritu Marya
November 29, 2019
The transaction happens following CFG’s decision to sell a $500 million stake to the US-headquartere ...More
By Jaspreet Kaur
November 27, 2019
Subscription-based vehicle maintenance platform, FirstU has reportedly raised an undisclosed sum of ...More
By Jaspreet Kaur
November 27, 2019
Just Herbs, which is operated by APCOS Natural Pvt. Ltd will employ the money for expanding its prod ...More
By Jaspreet Kaur
November 25, 2019
The decision of selling the Indian food delivery unit, UberEat has come at a time when the parent co ...More
By Jaspreet Kaur
November 25, 2019
According to a media report, the deal will probably seal by the cessation of February 2020, after re ...More
By Jaspreet Kaur
November 22, 2019
Online ed-tech startup, Azent Overseas Education Ltd has reportedly bought AI-based student admissio ...More
By Jaspreet Kaur