Cross-border raw materials sourcing co Ximkart raises $2.4-M led by Matrix Partners

Bengaluru-based cross-border raw material sourcing startup Ximkart has raised USD 2.4 million in a funding round led by Matrix Partners India. The round saw participation from Multiply Ventures, Better Capital and Citius Ventures. Angel investors such as Udaan's Sujeet Kumar, GGV's Hans Tung, and founders of Ula, OfBusiness and Zetwerk also participated. Founded in 2022 by Sharan Urubail and Ankush Mittal, Ximkart aims to simplify imports of raw materials while eliminating middlemen in the supply chain. The platform provides manufacturers with access to the raw materials from across the globe, along with easy payment and logistics solutions. The new funds will be used to strengthen its position in existing categories, launch new categories and expand to newer geographies.