IndiaMART announces Rs 7.5 cr investment in Truckhall Pvt Ltd

B2B marketplace IndiaMART, via its wholly owned subsidiary Tradezeal Online Private Limited, has announced it has made an investment of approximately Rs 7.5 crores to purchase compulsorily convertible debentures (CCDs) of Truckhall Private Limited (‘Superprocure’).

Superprocure is a SaaS platform that digitizes the entire freight sourcing and dispatch monitoring system of the logistics department of an organization. It allows logistics departments to find the best possible rates through a transparent bidding and auction structure, thus saving costs, it said in a press statement.

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 on the spot decision making easier.

IndiaMART had previously led the Seed investment round of Superprocure in April 2022, in which it had invested Rs 9.68 crores as primary capital into the company, and had purchased existing investor securities worth Rs 1.33 Crores via a secondary share purchase.

Speaking on the investment, Mr. Dinesh Agarwal, Founder and CEO of IndiaMART said, “Last year we led the Seed investment round into Superprocure based on our confidence in the team’s expertise and ability to develop a unified SaaS product which 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. We are excited to partner with the Superprocure team and support them on their next phase of growth”.

Commenting on the fundraise, Anup Agrawal, CEO and Co-Founder of Superprocure said, “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 logistics team to optimise freight cost and service customers better. We are excited to double down on our partnership with IndiaMART, and are looking forward to utilizing their expertise and funding to help us enhance the product and reach more enterprises.”

Published on: Monday, April 18, 2022, 01:44 PM IST