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Wootz.Work Raises $3.5 Million In Seed Funding From Matrix Partners, Nexus

Aug 22, 2023•almost 2 years ago

Amount Raised

$3.5 Million

Round Type

seed

New DelhiLocation Based ServicesE Commerce

Description

Engineering equipment and solutions procurement platform Wootz.work on Tuesday raised around $3.5 million in a seed funding round led by Matrix Partners India and Nexus Venture Partners.AdvantEdge and Mars Shot Ventures (Razorpay Founders' Fund) also participated in the round, as did 30 angel investors including Livspace co-founder Ramakant Sharma, ex-ITC veteran Sanjiv Rangrass, Vikrampati Singhania of JK Group, and the Zetwerk founders.Founded in March this year by Karan Anand and Himanshu Uniyal, the platform connects buyers with products and solutions in 24 hours and facilitates smooth delivery to the customer's location. The company sources primarily from SMEs in India, and some components from China. It is also actively looking at sourcing from Vietnam and Turkey, said Anand. However, India would continue to be the largest contributor, given the breadth of services and better products available, he added.“We eliminate the vendor

Company Information

Company

Wootz.work

Location

New Delhi, Delhi, India

About

Wootz.work aims to streamline the cross-border buying experience for light engineering products through technology and ownership of the process from design to delivery. Redefining the norms of conventional marketplaces, Wootz.work goes beyond just connecting buyers with sellers—it links them directly to products and solutions. With an understanding of basic parameters and a buyer's geography, industry and application, Wootz.work’s technology can instantly tailor products, contextualizing existing SME capabilities for the buyer’s unique requirements.

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