Wootz.work, a New Delhi, India-based startup that offers Software as a Service (SaaS), raised $3.5 million in seed funding to expand the team and establish a presence.
The funding round was led by Matrix Partners India and Nexus Venture Partners, with participation from AdvantEdge and Mars Shot Ventures, along with 30 angel investors like Ramakant Sharma, Sanjiv Rangrass, Vikrampati Singhania, and the founders of Zetwerk.
The injection of funds will be directed towards assembling the initial team, advancing technological infrastructure, and fortifying the company’s footprint in both the US and UK markets.
The main objective of Wootz.work is to transform the way light engineering products are procured across borders by leveraging technology to connect buyers with customized solutions.
Karan Anand, Co-Founder & CEO, shared “We are convinced that the conditions have never been better for India and Southeast Asia to emerge as a global manufacturing hub for light engineering products. However, tapping this opportunity for SMEs is not as straightforward given their scale, differing engineering standards, regulatory environments, market distances and the imperative of robust after-sales service. Our goal at Wootz.work is to address this need and build at scale, to become a trusted, enduring procurement channel for our global customers. ”
Company: Wootz Work
Round: Seed Round
Funding Month: August 2023
Lead Investors: Matrix Partners India and Nexus Venture Partners
Additional Investors: AdvantEdge, Mars Shot Ventures, Ramakant Sharma, Sanjiv Rangrass, Vikrampati Singhania, the founders of Zetwerk
Company Website: https://www.wootz.work/
Software Category: Value Sourcing Platform
About the Company: Founded in March 2023 by Karan Anand and Himanshu Uniyal, Wootz.work is a SaaS startup that provides a value-sourcing platform for custom engineering equipment and solutions. Wootz.work is driven by the mission to enhance and simplify the cross-border procurement experience for light engineering products. Wootz.work is currently working with factories and Original Equipment Manufacturers (OEMs) in the UK across their growth, automation, and MRO phases, driving supply chain innovations and capital expenditure optimization.