B2B ecommerce startup Prodo, today announced it has raised Rs 3 crore in a pre-Seed funding round led by Titan Capital and LetsVenture.
The funding round also saw participation from marquee angel investors such as Abhinav Sinha (Global COO, OYO), Nimesh Kampani (Co-founder & CEO, trica), Gaurav Ajmera (CBO, Pristyn Care), Prasun Choudhary (President, OYO International), Saurabh Aggarwal (Co-founder, Fitso by Zomato) Abdul Pravengal (Ex-CBO – Shipper), Saurabh Srivastava (CMO & CGO, Housr), and among others.
Founded in May 2021 by Sameen Husain and Abhiroop Srivastava, Prodo operates a one-stop B2B ecommerce platform that provides manufacturing of made-to-order and white-labeled consumables.
According to the startup, The indirect procurement industry in India is plagued by low service levels, lack of technology, and transparency. Prodo, with its platform, aims to solve this problem by creating a cloud-connected network of micro, small and medium manufacturers.
“Lack of technology and transparency is one of the biggest problems faced by corporate purchase teams. While in the consumer space we are buying everything online, 70 percent of B2B purchases still remain offline and have not evolved with the changing profile of the new age purchase managers,” Sameen, Founder & CEO of Prodo, said.
According to a statement, the startup will use the raised funding to strengthen its team, technology, and scale its operations.
Since its inception, The platform has onboarded over 130 manufacturing units across India as a part of its network. Prodo clients get access to one-touch sampling, live tracking of orders, and a personalized dashboard. Prodo takes care of end-to-end procurement for clients – which includes design, production, compliance, quality control, and last-mile delivery.
Speaking on the investment, Bipin Shah, Partner, Titan Capital, said: “The Indian manufacturing sector has the potential to surpass USD 1 trillion by 2025. We feel unique business models like Prodo, which are on the mission to digitize manufacturing for indirect procurement through e-commerce, will be drivers of this growth. Prodo, in a short stint of time, has successfully onboarded long-term B2B clients which is a clear indicator of its product-market-fit.”