A pre-seed funding round led by Seedstars International Ventures, Fluent Ventures, and Everywhere Ventures has raised $750,000 for the construction tech startup MatBook. Angel investors connected to Amazon and Autodesk also took part.
The money raised will be utilized to increase its workforce in sales, technology, and operations, as well as to enhance its technology and increase its footprint in the United States. MatBook also intends to improve its artificial intelligence (AI) tools for supplier recommendations, lead-time optimization, and pricing predictions.
Harsh Badera, Nasir Hussain, Raghav Malhotra, and Shubham Sharma founded the business, which aims to connect consumers and manufacturers directly. With a quality control system and integrated logistics, MatBook’s platform aims to cut down on expenses and delays.
U.S. distributors and contractors can purchase building supplies directly from verified manufacturers thanks to MatBook’s AI-powered platform. Through the simplification of financing, shipping, quality assurance, and procurement, the company seeks to address supply chain concerns in the US construction sector.
The business intends to grow its network of manufacturers and offer credit solutions. Additionally, MatBook provides Environmental Product Declarations to purchasers who wish to comply with green building regulations.
MatBook faces competition in the construction market from companies like BRKZ, OfBusiness, Moglix, and Infra.Market. In its Series A round, which was co-led by 9900, BECO Capital, and other investors, BRKZ had raised $8 million earlier in March 2024.
