Matrak, a Melbourne, Australia-based construction supply chain startup, has secured $2.9 million in Series A funding.
Investors
The round was led by Singapore-based G&M Capital, alongside Sydney VC Our Innovation Fund, former Aconex chairman Simon Yencken, and others.
Founded in 2018, G&M Capital was a venture capital firm based in Singapore, focusing on early-stage investments in Artificial Intelligence, Digital Intelligence, and Machine Intelligence startups.
Matrak Use of Funds
The funding will be allocated towards several key initiatives to support the company's expansion and development goals, particularly as it looks to penetrate the Chinese market.
About Matrak
Founded in 2018 by Shane and Brett Hodgkins, Matrak offers connected materials tracking for global construction supply chains, streamlining and de-risking operations for manufacturers, suppliers, and builders. Its software platform has been adopted by over 280 clients on 400 construction projects worldwide, including notable landmarks like Queen’s Wharf and Melbourne’s 65-storey Aspire tower. The company has expanded its presence to Southeast Asia, China, Australia, the UK, Canada, and the US, with a new office opened in Suzhou, China.
Funding Details
Company: Matrak Enterprises Pty Ltd.
Raised: $2.9M
Round: Series A
Funding Month: April 2024
Lead Investors: G&M Capital
Additional Investors: Our Innovation Fund, Simon Yencken
Company Website: https://matrak.com/
Software Category: Material Tracking and Construction Management
Source: https://www.blaize.com/press/blaize-secures-106-million-in-funding/