Ximkart raised $2.4 million in fresh funding led by Matrix Partners India where Multiply Ventures, Better Capital and Citius Ventures and angel investors–Sujeet Kumar from Udaan, Hans Tung from GGV, and founders of Zetwerk, Ula and OfBusiness have also participated.
Ximkart provides supply chain and logistics solutions to manufacturers. It assists manufacturers in sourcing raw materials from around the world, including calcium carbonate, dead burnt magnesia, mineral turpentine oil, di-ethylene glycol, and aluminium scrap wheel alloy. The new funds will be used to strengthen existing categories, launch new offerings, and expand verticals such as procurement, sales, technology, and operations. According to a RedSeer report, the country’s logistics sector is expected to reach $300 billion by 2025.