Thursday, February 22, 2024
HomeInsightFunding Alert Secures $3.5 Million in Seed Funding

[Funding alert] Secures $3.5 Million in Seed Funding

3.5 million dollars was the amount received in a seed round sponsored by Matrix Partners India and Nexus Venture Partners for, a value sourcing platform for specialized engineering tools and solutions. Along with 30 angel investors, including Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the Zetwerk founders, AdvantEdge and Mars Shot Ventures (Razorpay Founders' Fund) participated in the round. The funds will be applied to the formation of the initial team, the development of technology, and the bolstering of presence in the US and UK.

A $3.5 million Seed round led by Matrix Partners India and Nexus Venture Partners has been raised for

AdvantEdge, Mars Shot Ventures (Razorpay Founders’ Fund), 30 angel investors, including Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the Zetwerk founders, participated in the round. The money will be used to form the initial team, develop the technology, and bolster the presence in the US and UK, as per reported by

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“We are convinced that the conditions have never been better for India and Southeast Asia to emerge as a global manufacturing hub for light engineering products. However, tapping this opportunity for SMEs is not as straightforward given their scale, differing engineering standards, regulatory environments, market distances and the imperative of robust after-sales service. Our goal at is to address this need and build at scale, to become a trusted, enduring procurement channel for our global customers,” said Karan Anand, co-founder and CEO,

Read also –  [Funding alert] Unicorn Startup FirstCry Secures $58mn From Indian Family Offices

“We at Matrix are super excited about the manufacturing opportunity in India. A combination of the realignment of global supply chains, China + 1 and maturing of the Indian manufacturing sector has positioned India to be the manufacturing hub for the world. Wootz’s platform empowers Indian SME manufacturers to sell globally by solving key bottlenecks like design and quality. Karan and Himanshu bring extensive experience in setting up manufacturing facilities through the course of their respective careers and we are privileged to partner with them in the Wootz journey,” said Sudipto Sannigrahi, principal, Matrix Partners India.

Read also – Furnishing Brand MyTrident Appoints Kareena Kapoor As Brand Ambassador, a company founded in March 2023 by Karan Anand and Himanshu Uniyal, promises to use technology and take control of the entire process from design to delivery to ease cross-border purchasing for light engineering items. In order to drive supply chain innovations and capital expenditure optimization, is presently collaborating with factories and Original Equipment Manufacturers (OEMs) in the UK across their expansion, automation, and MRO phases. According to a formal announcement, the corporation will open new offices in the US and UK this year.


Wootz gives factories and OEMs the ability to focus on what can they do best. They take ownership from design to delivery.

Dependable engineering goods for and from the global market like Production tools, Onboarding filter, virtual support

Read also – [Funding alert] Veda VC Secures First Close of $30 Million Fund

Team VS

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