ZippMat, a service platform for construction supply chain, has raised $10 million in an equity and debt round led by Matrix Partners India.
Existing investor Zephyr Peacock also participated in the equity financing, while HDFC Bank and TradeCred took part in the debt funding.
The Bengaluru-based startup will utilize the latest funds to scale up its user base, digitize the supply chain, bring in product innovation, and expand its team from the current 25 people.
The startup, founded in 2021 by Kudva and Nandeesh Hasbi, simplifies material procurement for engineering and construction companies by leveraging its supplier and logistics network.
Its solutions help construction companies solve project execution delays, increased project costs, and access to working capital.
ZippMat serves over 30 customers across 10 product categories while delivering at project sites across 10 states.
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