Private Equity

VC Fund Investments

Construction supply chain startup ZippMat raises $10-M led by Matrix Partners India

Economic Times,   YourStory  

Bengaluru-based ZippMat, a startup focused on building for construction supply chain needs, has raised USD 10 million across equity and debt seed funding led by Matrix Partners India. The round saw equity participation from existing investor Zephyr Peacock and debt participation from HDFC Bank and TradeCred. Founded by Abhijeet Kudva, ZippMat is a “SCaaS” (supply chain as a service) platform that simplifies material procurement for engineering and construction companies by leveraging its supplier and logistics network. Its solutions help construction companies solve for project execution delays, increased project costs and access to working capital and currently serves over 30 customers across 10 product categories while delivering at project sites across 10 states. The new funds will be used to scale the platform's user base, digitize the supply chain, bring in product innovation, and expand the team. The debt component will be used to provide working capital solutions to contractors.

From the Venture Intelligence PE-VC Deal Database: In Feb 22, ZippMat had raised over USD 1 M from Zephyr Peacock, Kettleborough VC and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)