ProcureYard, a B2B procurement startup based in Gurugram, has raised US$1.72 million (approximately 14.87 crore rupees) in a seed funding round led by Powerhouse Ventures.

Other investors include Java Capital, 2am VC, and angel investors such as Tracxn co-founder Abhishek Goyal and GSF founder Rajesh Sawhney.

Founded in 2023 by Anshu Kandhari, Pankaj Bisht, Somdutt Parashar, and Tushar Agarwal, ProcureYard specializes in raw material procurement for the construction, manufacturing, and infrastructure sectors.

The startup plans to use the new funds for product development, working capital management, and improving its conversational AI platform.