Monday, September 26, 2022
HomeInsightFunding Alert Construction supply platform ZippMat raises $10 mn in funding

[Funding alert] Construction supply platform ZippMat raises $10 mn in funding

In order to meet the needs of the construction industry ZippMat, a startup, has raised $10 million in equity and debt seed capital led by Matrix Partners India. Existing investor Zephyr Peacock contributed stock to the round, and HDFC bank and TradeCred contributed debt.

In order to meet the needs of the construction industry ZippMat, a startup, has raised $10 million in equity and debt seed capital led by Matrix Partners India. Existing investor Zephyr Peacock contributed stock to the round, and HDFC bank and TradeCred contributed debt.

The Bengaluru-based business will make use of the most recent funding to grow its user base, digitise the supply chain, introduce product innovation, and increase the size of its workforce.

Founded in 2021, by Abhijeet Kudva and Nandeesh Hasbi, ZippMat is a full-stack SCaaS enterprise that simplifies supply chain for organizations by leveraging its extensive supply network with technology led services that help improve margins and reduce execution timelines.

Read also – [Funding alert] Retailtech platform Daalchini raises $4 mn in Series A round

“ZippMat is building a platform to help our construction community manage their entire supply needs, from planning to order to delivery at the site, Our platform provides a real-time collaborative tool for construction companies to plan and manage their supply deliveries transparently and cost-effectively”, chief executive Abhijeet Kudva said in a statement.

ZippMat helps contractors save costs and complete projects faster! They are a tech-led full stack SCaaS company with a complete bouquet of material solutions for infra companies.

“We want ZippMat to be a digital assistant for all contractors and suppliers to streamline and simplify their procurement processes. Our dedicated logistics team has built a pan-India logistics network to ensure we deliver materials on time and help reduce project delays”, Nandeesh Hasbi, cofounder and chief business officer, said.

Within a short span of 7 months, ZippMat has built partnerships across major categories like TMT, Steel, Bitumen, Cement and served 30+ contractor customers across road works, irrigation, railway, and building construction.

Read also – [Funding alert] StayVista raises Rs 40 cr led by DSG Consumer Partners

“We have seen significant tailwinds of digitisation and formalisation across MSMEs in the construction space. ZippMat, with its tech-led procurement and financing solutions is enabling construction companies to grow faster than ever before while reducing costs. Abhijeet and Nandeesh bring years of experience of solving supply chain problems for the construction industry and we are pleased to partner with them on this journey ahead,” said Sudipto Sannigrahi, Principal, Matrix India.

About ZippMat

ZippMat is a full-stack SCaaS company that uses technology-driven services to leverage its vast supply network to streamline the supply chain for businesses, increasing margins and speeding up execution times.

A construction contractor’s whole supply chain is managed by ZippMat, from creating a thorough Bill of Materials to placing an order to receiving deliveries on the job site. Their SCaaS tech platform offers construction organisations a real-time collaborative tool to plan and manage their supply delivery in the most transparent and cost-effective way possible.

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