Procol: Funding, Investors & Team (Sep 2026)
Procol is a procurement platform for large enterprises to help monitor and reduce spend. It's the year 2020, and the world's largest spend taken place offline. We’re living in a world where we have Amazons. In contrast with the world of business purchases where 60% of the time is spent on cold calling, emailing, following-up, and even worse, a large number of transactional frauds happen on payments and deliveries. Resulting in ruined trust and suffered business relationships. In a market of trillion $ of business spend, Procol is building an all-in-one digital procurement platform — a single place for live auctions, collaboration, and intelligent insights. Backed by investors like Blume Ventures, Sequoia Surge, Beenext, and Rainmatter.
Procol has raised $11.9M across 2 funding rounds on record, the most recent a Series A of $6.4M announced in Sep 2022.
That round is below the $7.5M median round size for Consumer Electronics companies tracked on FundedIQ over the last two years.
Procol Company Profile and Key Stats
Latest funding round on record: Sep 2022.
Procol Funding Rounds
Procol raised $5.5M in a Series A announced in Jun 2022.
3 months later, a Series A of $6.4M was announced in Sep 2022.
Procol Founders and Leadership Team
No contact details are on record for this team yet.
Procol Funding Compared to Other Consumer Electronics Startups
Procol's latest round of $6.4M is below the median round in Consumer Electronics. Medians cover the last 24 months of disclosed rounds.
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Procol Funding FAQs
What does Procol do?
Procol is a procurement platform for large enterprises to help monitor and reduce spend. It's the year 2020, and the world's largest spend taken place offline. We’re living in a world where we have Amazons. In contrast with the world of business purchases where 60% of the time is spent on cold calling, emailing, following-up, and even worse, a large number of transactional frauds happen on payments and deliveries. Resulting in ruined trust and suffered business relationships. In a market of trillion $ of business spend, Procol is building an all-in-one digital procurement platform — a single place for live auctions, collaboration, and intelligent insights. Backed by investors like Blume Ventures, Sequoia Surge, Beenext, and Rainmatter.
How much funding has Procol raised?
Procol has raised $11.9M across 2 rounds on record. The most recent is a Series A of $6.4M announced in Sep 2022.
When did Procol last raise funding?
Procol's most recent funding round on record is a Series A of $6.4M, announced in Sep 2022.
Who founded Procol?
FundedIQ lists Sumit Mendiratta (Founder) at Procol.
Where is Procol headquartered?
Procol is based in Gurgaon, Haryana, India.
How many employees does Procol have?
Procol is in the 51-100 employee band.
How does Procol's funding compare to other Consumer Electronics startups?
Procol's latest round of $6.4M is below the $7.5M median round size for Consumer Electronics companies on FundedIQ across 1,547 tracked companies over the last two years.
About FundedIQ's Procol Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Procol is left off this page rather than filled in.
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