In order to support its expansion, the Nigerian construction technology startup Cutstruct has raised US $1.5 million in a seed round of funding.
CutStruct, a construction procurement marketplace created by John Oamen and Tayo Odunsi, enables buyers, such as contractors and real estate developers, to work with vetted vendors and take advantage of additional services like trade credit, goods-in-transit insurance, and transportation.
The startup has closed a US $1.5 million seed round led by CRE Venture Capital, with additional backers including E3 Capital, Techstars, and Zedcrest. In November 2022, the company raised US $600,000 in pre-seed funding.
The money will be used by Cutstruct to improve its platform, increase its supplier network, scale operations in Nigeria, and improve its delivery capabilities.
