Sameen Husain and Abhiroop Srivastava Revolutionizing B2B Procurement with Prodo

Former colleagues at Oyo, Sameen Husain and Abhiroop Srivastava, recognized the challenges plaguing India’s indirect procurement industry. These included poor service, a lack of technology, transparency, and support for MSME (Micro, Small, and Medium Enterprises) manufacturers. The duo decided to address these issues by launching Prodo, a B2B ecommerce platform focused on transforming the way businesses procure products.

Prodo’s Mission: B2C-Inspired Procurement

Prodo, based in Gurugram, was founded in May 2021 with the goal of making indirect procurement as seamless and efficient as consumer purchasing. The founders aimed to automate various touch points in the supply chain, from sampling to quality control, creating a one-touch experience for corporate buyers. Sameen Husain, CEO, and Co-founder of Prodo, highlighted that the biggest challenges faced by corporate purchase teams were the lack of technology and transparency. Despite the digital transformation in the consumer space, a significant portion of B2B procurement remained offline and outdated.

Prodo operates as a B2B ecommerce platform that offers manufacturing and end-to-end bulk procurement of made-to-order (MTO) products for businesses. It boasts an extensive catalog of over 1,000 SKUs in the MTO consumables category, providing a seamless buying experience through its embedded ecommerce platform. One of the key differentiators of Prodo is its commitment to eliminating middlemen in the supply chain. When an order is placed on the platform, Prodo matches it with the appropriate manufacturing unit from its network, which includes over 300 manufacturing units within just eight months of operation. This approach benefits small and medium manufacturers by providing them with sustainable demand and removing the need for extensive marketing efforts.

Prodo charges a small margin on the cost of goods manufactured, making its technology-driven solutions easily accessible to clients. The company believes in making technology readily available to drive digital adoption in the procurement space.

Prodo’s Impressive Growth and Clientele:

Prodo’s innovative approach has attracted a range of clients, including BlinkIt, Snapdeal, Delhivery, Thyrocare, Sila Group, Stanza Living, Meatigo, and Otipy. The company’s mission is to streamline the entire manufacture-to-pay process while offering a tech-first end-to-end procurement service to clients of all sizes, from traditional businesses to modern unicorns. The startup has achieved significant milestones, selling 9.3 million units of goods through its platform and achieving a Rs 42 crore annualized sales run rate in March 2022. This remarkable growth reflects the success of Prodo’s unique model in addressing the needs of the procurement industry.

While Prodo faces competition from various players, including unorganized local traders and distributors, it distinguishes itself by offering a comprehensive end-to-end B2B buying experience. The company’s focus is not limited to the Indian market; it aspires to become a global B2B ecommerce leader, targeting the $18 trillion global B2B ecommerce market projected for 2026.

Funding and Future Plans:

Prodo secured pre-seed funding of $400,000 in November 2021, led by LetsVenture and Titan Capital, with participation from prominent angel investors. This achievement is noteworthy as Prodo is among the few women-led, non-IIT (Indian Institutes of Technology) start-ups that have successfully raised funding at the idea stage. Looking ahead, Prodo aims to achieve Rs 100 crore in sales by March 2023, with a strong focus on hiring and expanding across various functions to support its growth. The company is also exploring opportunities to expand into Egypt and the Middle East, with plans to start exporting to these regions by the end of the year.

Sameen Husain and Abhiroop Srivastava’s journey with Prodo demonstrates how innovative technology and a commitment to eliminating inefficiencies can revolutionize traditional industries and empower businesses, regardless of their size.