Online construction marketplace ZippMat raised $10 million as part of a seed round headed by Matrix Partners India. Zephyr Peacock and HDFC Bank both contributed to the equity fundraising round, while TradeCred and HDFC Bank contributed to the debt funding round.
Construction supply chain platform ZippMat offers a full stack. The startup will use the money for staff growth, user acquisition, supply chain digitization, and product development. It obtains building supplies and delivers them to the required place for engineering and construction companies. Three construction-related problems—delays in project execution, rising project costs, and access to working capital—are said to be resolved.