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ProcMart raises Rs 25 Cr in pre-Series B round

EntrackrEntrackr · 1y ago
ProcMart raises Rs 25 Cr in pre-Series B round
Medial

Business-to-business procurement marketplace ProcMart has raised Rs 25 crore ($3 million) in its pre-Series B round from Sixth Sense Ventures India. The board at ProcMart has issued 5,933 pre-series B CCPS at an issue price of Rs 42,127 each to raise Rs 25 crore, its regulatory filing soured from the RoC shows. Previously, the startup had raised $10 million in its Series A round led by Sixth Sense Ventures in November 2022. Following the fresh proceeds, Sixth Sense became the largest external stakeholder with 30% stake in ProcMart while its founder and chief executive officer Anish Popli will command 41.76% of the company. As per the startup data intelligence platform TheKredible, the latest capital injection has been done at a valuation, which is Rs 275 crore. Founded in 2015 by Anish Popli, the IndiaMART-backed startup provides supply chain solutions and infrastructure to businesses including services such as purchase order management, contract administration, master data management, e-catalogue management and market intelligence. ProcMart’s clients include Colgate, Mondelez, Harman, and Vedanta. It has 13 offices in India and one in Malaysia. The company also launched white-label in 2022 to provide construction equipment. The Noida-based company recently announced a strategic collaboration with local vendors in the biomass briquettes and pellets manufacturing sector. It competes with Lightspeed Ventures-backed Udaan in the B2B supply chain space.

Quadria Group launches HealthQuad Fund III with $300 Mn corpus

EntrackrEntrackr · 1m ago
Quadria Group launches HealthQuad Fund III with $300 Mn corpus
Medial

Quadria Group, a healthcare-focused private equity platform, has announced the launch of HealthQuad Fund III with a proposed raise of up to $300 million (target corpus of $200 million and a $100 million greenshoe option). As the successor to Funds I and II, the third fund aims to build on a proven track record of identifying and scaling pioneering healthcare ventures that have significantly expanded access, affordability, and quality of care across India. The launch aligns with Quadria’s long-term vision of creating India’s most integrated healthcare investment platform, offering capital solutions from early-stage innovation to scaled growth across the healthcare value chain. Launched in 2016, HealthQuad was initiated as a distinct investment vehicle focused on supporting disruptive, tech-enabled healthcare models at the early-growth stage. Funds I and II backed over 18 companies, including Qure.ai, Medikabazaar, THB, Wysa, Ekincare, Redcliffe Labs, GoApptiv, and Strand Life Sciences. With Fund III, Quadria takes a step toward establishing a broader healthcare investment franchise. Dr. Amit Varma, Abrar Mir, and Sunil Thakur will assume full ownership and control of the platform following its separation from KOIS. A significant portion of the existing investment and committee team will remain involved in managing current portfolio investments. Quadria intends to leverage its global and domestic institutional investor network to support the fund and create scaled impact. The firm recently closed Quadria Capital Fund III at $1.07 billion, backed by leading global institutions. Founded in 2012, Quadria Capital manages over $4 billion in assets across 27 investments in South and Southeast Asia, including India, Vietnam, Indonesia, Malaysia, and Singapore. The firm aims to generate sustainable value by partnering with high-impact healthcare businesses and delivering strong investor returns.

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