Custom engineering sourcing platform Wootz.work raised $3.5 M from Matrix and Nexus

Ila Dhond22/08/2023

191 1 minute read

A seed round led by Matrix Partners India and Nexus Venture Partners raised about $3.5 million for the custom engineering equipment and solution sourcing platform Wootz.work.

AdvantEdge, Mars Shot Ventures (Razorpay Founders’ Fund), 30 angel investors, including Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the Zetwerk founders, participated in the round.

Wootz claims that the money will be used to form the initial team, develop the technology, and bolster presence in the US and UK.

Wootz.work was established in March 2023 by Karan Anand and Himanshu Uniyal to connect sellers and buyers of goods and services. Its technology allows for immediate product customization, contextualizing SME capabilities for the specific needs of the buyer.

Within 24 hours, the platform can match customers with products and solutions and guarantee prompt delivery to the customer’s location.

In order to drive supply chain innovations and capital expenditure optimization, the startup is currently collaborating with factories and Original Equipment Manufacturers (OEMs) in the UK across their growth, automation, and MRO phases. The business claims that this year it will open new offices in the US and the UK.