ZippMat secures $10 min seed funding led by Matrix Partners India

• ByStartupStory     |    September 9, 2022

ZippMat, an online construction marketplace, has secured $10 million in early capital in a mix of stock and debt. Matrix Partners India led the round.

The equity round was led by Zephyr Peacock, while the debt round was led by HDFC Bank and TradeCred.

It plans to utilise the funding for product development, growing its user base, digitising the supply chain, and hiring new employees.

The Bengaluru-based firm, founded in 2021 by Abhijeet Kudva and Nandeesh Hasbi, is a full-stack supply chain platform for the construction sector. It obtains building material for engineering and construction firms and delivers it to the specified site. It promises to alleviate three construction-related issues: project execution delays, higher project costs, and access to operating cash.

ZippMat coordinates the complete building material supply chain and delivery. According to its website, it also assists businesses in tracking deliveries and managing several vendors at the same time.

ZippMat received an undisclosed sum of money from several angel investors in 2021 – Polycab’s Nikhil and Bharat Jaisinghani, TradeCred’s Hardik Shah, Beams VC’s Sagar Agarwal, Kettleborough VC’s Sagar Agarwal, and Pennar Industries’ Aditya Rao.

“The construction industry contributes to over 5% of our GDP. Yet, this is one of the most archaic industries with no proper solution to bridge the various communication gaps. ZippMat is building a platform to help our construction community manage their entire supply needs, from planning to order to delivery at the site. The company’s mission is to disrupt the entire supply chain and act as a one-stop shop for contractors and suppliers in the construction industry,” said Kudva, Co-founder and CEO, ZippMat.

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