IndiaMART Announces Investment In Truckhall

IndiaMART, via its wholly owned subsidiary Tradezeal Online, has made an investment of approximately INR 7.5 Crore to purchase compulsorily convertible debentures (CCDs) of Truckhall (‘Superprocure’).

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

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.

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”