ProcureYard Technologies Pvt Ltd

Founded in 2023 and based in Haryana, India, ProcureYard Technologies Pvt Ltd provides AI-powered procurement solutions for the construction materials industry. Anshu Kandhari (CEO), Pankaj Bisht (CBO), Somdutt Parashar (CPO), and Tushar Aggarwal (COO) are the co-founders of the company. In January 2025, ProcureYard Technologies Pvt Ltd raised USD 1. 72 million in seed funding led by Powerhouse Ventures, including 2 a.

m. Ventures and Java Capital. ProcureYard specializes in AI-powered procurement solutions primarily tailored for the construction materials sector, focusing on categories such as aggregates, bitumen, wires and cables, and steel. The company’s platform streamlines procurement processes by automating negotiations, paperwork, and payment transactions, thus enabling businesses to enhance operational efficiency and reduce costs.

The firm’s service is designed for businesses in the technology, media, and telecommunications (TMT) sectors, as well as construction companies that require reliable material procurement. ProcureYard’s client base includes small and medium enterprises (SMEs) and larger construction firms that benefit from real-time price intelligence and automated vendor communications. The company operates on a revenue model primarily built around subscription-based services and transaction fees associated with its procurement platform. The transaction structure often involves direct partnerships with construction firms, which leverage ProcureYard’s capabilities to optimize their supply chain and procurement workflows.

The organization plans to use the January 2025 funding to enhance product development, manage working capital, expand its AI platform across raw materials, and grow market presence with supply chain solutions.