Wootz.work, a platform that digitizes the procurement of engineering equipment, has raised $3.5 million in seed funding from Matrix Partners India and Nexus Venture Partners. The round also saw participation from angel investors such as Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the founders of Zetwerk.
Wootz.work was founded in 2023 by Karan Anand and Himanshu Uniyal. The company provides a platform for buyers and sellers of engineering equipment to connect and transact. The platform offers a variety of features, such as online listings, real-time bidding, and payment processing.
Wootz.work aims to digitize the $100 billion engineering equipment procurement market in India. The company plans to use the funds raised in this round to expand its team, develop new features, and enter new markets.
Here are some of the key takeaways from the news:
- Wootz.work has raised $3.5 million in seed funding from Matrix Partners India and Nexus Venture Partners.
- The round also saw participation from angel investors such as Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group), and the founders of Zetwerk.
- Wootz.work provides a platform for buyers and sellers of engineering equipment to connect and transact.
- The company aims to digitize the $100 billion engineering equipment procurement market in India.
- Wootz.work plans to use the funds raised in this round to expand its team, develop new features, and enter new markets.
Here are some of the implications of the news:
- The funding of Wootz.work is a sign of the growing interest in the digitization of the engineering equipment procurement market.
- The company’s platform has the potential to disrupt the traditional way of procuring engineering equipment.
- The funding will help Wootz.work to grow its team and develop new features, which will further strengthen its position in the market.
- The company’s entry into new markets will help it to reach a wider audience and grow its business.
