prodo: Manufacturing, procurement startup Prodo raises $1 million in seed funding

New Delhi: On-demand manufacturing startup Prodo has closed a $1 million seed round. The round was led by Inflection Point Ventures with participation from Titan Capital, LetsVenture and Dholakia Ventures.

Founded by Sameen Husain and Abhiroop Srivastava in May 2021, Prodo is an on-demand manufacturing and logistics platform. It helps medium and large companies with their bulk production needs. After placing an order with Prodo, it is matched with the appropriate production unit using the data. Customers can follow the production cycle live – from design to delivery.

With 500 manufacturing units as part of its network, Produ is building a globally distributed manufacturing ecosystem by standardizing small and medium-sized manufacturers. The company’s goal is to create supply chains that provide the fastest turnaround time for customers and operational efficiency across each of its SKUs. So that customers get real value for money.

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Sameen Husain, Co-Founder and CEO, Prodo commented, “India is home to 6 million MSME manufacturers. Currently, most MSME manufacturers are operating at 50-60% of their production capacity, through standardization and mapping. “Supply-demand, we plan to unlock $2 billion in manufacturing potential over the next 4 years. We are building a reliable, data-driven manufacturing ecosystem.” Produ empowers its partner manufacturers by providing sustainable demand, working capital, raw materials, SOPs and technology to bring them up to global manufacturing standards.The company works on quarterly to annual orders for medium and large customers. , plans to book 400 crore orders by FY24.

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Ankur Mittal, Co-Founder of IPV stated, “India’s manufacturing sector is expected to reach a $1 trillion market size by 2030. I believe that along with government pressure, startups like Prudo can be drivers in unlocking the potential of this sector. We are excited to be a part of this story.”

“Companies that have a presence in multiple vendors,” Titan Capital partner Bipin Shah said in a statement. While constantly looking for direct experience from the manufacturer. By becoming a mass producer, Prudhoe is solving this problem. Additionally, the B2B shopping experience today is largely offline. We believe that full-service marketplaces like Prodo, operating in categories where on-time delivery and quality are critical, can bring the entire shopping experience online.

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This is Produ’s second round of financing. Previously, the company had raised a seed round of $400,000 in November 2021, led by Titan Capital and LetsVenture.

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