Bengaluru-based construction supply chain platform ZippMat has announced that it raised $10 million in an equity and debt round led by Matrix Partners India. The round also saw participation from existing investor Zephyr Peacock India in the equity finance while HDFC Bank and TradeCred in the debt funding.
The fresh funding utilizes to scale up its user base, digitize the supply chain, onboard product innovation, and build a more robust team.
Funding: UserStudy Raises INR 8 Crore In Pre-Seed Funding led by Better Capital
Founded in 2021 by Abhijeet Kudva, Chetan Shet, Nandeesh Hasbi, ZippMat simplifies the supply chain for organizations by leveraging its supply network with technology-led services that help improve margins and reduce execution timelines.
ZippMat’s solutions help construction companies solve project execution delays, increased project costs and access to working capital. The startup claims to have served more than 30 customers across 10 product segments while delivering at project sites in 10 states.
As per to ZippMat, it became one of the largest players in Karnataka With more than Rs 100 crore in annualized revenue run-rate while operating profitability.
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