Matrix Partners leads $2.4 Mn round in XimKart
A $2.4 million funding round for the cross-border raw material sourcing business XimKart was headed by Matrix Partners India. Along with notable angel investors like Sujeet Kumar and Hans Tung, Multiply Ventures, Better Capital, Citius Ventures, and others participated in the investment round.
The money will be used, according to XimKart, to debut, solidify its position across categories, and expand to additional geographies.
Ximkart, a company founded in 2022 by Sharan Urubail and Ankush Mittal, streamlines the importation of raw materials by enhancing discovery, quality, transparency, and accountability while eliminating middlemen from the supply chain.
The Bengaluru-based business says it will enable MSMEs to compete with major enterprises and produce better products at cheaper pricing. Its platform offers producers simple payment options and logistical solutions, as well as direct access to raw materials from all around the world. Its rivals include Mumbai-based Groyyo, which got $40 million in an equity and loan round headed by Tiger Global, and Fashinza, which secured a $100 million round co-led by Prosus and Westbridge.
The building supply chain company Zippmat received a $10 million equity and debt financing from Matrix last week. In order to support burgeoning companies in the nation, Matrix Partners India announced in June that it would raise $450 million as part of its fourth fund.
The goal of the raw material sourcing platform Ximkart is to serve as the main global source of raw materials for manufacturers. The cross-border supply chain and technological solutions provided by Ximkart guarantee that manufacturers have access to the best raw materials at the greatest prices.The world’s leading supplier of raw materials to manufacturing utilizing a supply chain management solution to address discovery and speedy ordering. Our objective is to support all sizes of manufacturers so they can compete globally.
Obtaining raw materials from multiple countries is a difficult task today. There are many middlemen along with a lack of accountability, transparency, and trust. Access to the ideal raw materials at the ideal cost is the first step in this process. By utilizing technology, we have set out to completely reimagine the process of importing raw materials.
When was XIMKART founded?
XIMKART was founded in 2021.
Who is the founder of XIMKART?
The goal of Ximkart, founded by Sharan Urubail and Ankush Mittal, is to make it easier to import raw materials by improving discovery, quality, transparency, and accountability while removing middlemen from the supply chain.
Is XIMKART hiring?
Currently XIMKART is not hiring.
What is the team size of XIMKART?
As per the popular social media site LinkedIn, XIMKART has 21 employees.
Where is the head office of XIMKART?
XIMKART headquarters is located at Bangalore, Karnataka.
How much is the revenue of XIMKART?
XIMKART has not publicly revealed the revenue in the last round of funding.
XIMKART seems to be a fascinating startup with a motivating turn of events on international trade and development platform. My best wishes to the entire team. This will give them a huge accomplishment in the future.Shishir Gupta, Founder and CEO, StartupLanes
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