Construction supply chain startup Matrak raises $2.9 million

Matrak, a Melbourne-based startup that streamlines the construction industry’s supply chain, has raised $2.9 million in a Series A round, which the company says will help it establish a presence closer to the industry’s manufacturing hub in China. It is said that

The latest round was led by G&M Capital, with support from Sydney-based venture capital group Our Innovation Fund and former Aconex chairman Simonyencken.

Founded in 2018 by Shane and Brett Hodgkins, Matrak has tracked more than 1.2 million materials since its inception for customers including Multiplex, Lendlease, John Holland, and Hutchinson Builders.

With over 280 customers across its network, including manufacturers, suppliers and contractors, Matrak is transforming the construction supply chain through connected material tracking, helping the construction industry reduce costs and improve reliability. says.

The $2.9 million raised in the latest capital round will be used to strengthen the company’s balance sheet as it officially launches Matrak China in partnership with Singapore-based VC firm G&M Capital The company says this is a pivotal step in Matrak’s mission to revolutionize this field globally.

“We are focused on the smart construction sector and are always on the lookout for innovative emerging startups like Matrak,” said Lim Gu, founder of G&M Capital.

“We are therefore excited to strengthen our tradition of international cooperation by investing in Matrak’s China office to support our local clients in reaching global markets.

“Our partnership with Matrak underscores our investment commitment to increasing transparency and trust in the global manufacturing supply chain and supporting innovative startups globally.”

The Hodgkins brothers founded Matrak after Shane realized the complexity of manually tracking and managing materials for a business while working at his father’s facade installation company, Master Light.

Together with my brother Brett, we developed an end-to-end digital supply chain management tool that provides universal access.

Some of the projects that Matlack has supported over the past six years include The Star Entertainment Group’s (ASX:SGR) Queen’s Wharf development in Brisbane, the 65-storey Aspire project in Melbourne, the Victorian Heart Hospital; Cross River Railway in Brisbane.

Matrak CEO Shane Hodgkins said the support of G&M Capital and the company’s existing investors was an important step towards the company’s international expansion plans.

“Construction is global and building teams closer to key manufacturing customers reduces critical supply chain risk and enables more sustainable sourcing around the world,” Hodgkins said. Masu.

“Joining the Austrade Landing Pads program with links to G&M Capital has made it easier for us to raise funding from overseas.

“Australia Trade continues to play a vital role in enabling Australian start-ups to succeed in China, particularly supporting sustainability-driven start-ups like Matrak.”

Australian Trade and Investment Commission (Austrade) Shanghai Landing Pad Manager Emily Ma said she worked closely with the Hodgkins brothers to facilitate Matluck’s entry into the Chinese market.

“I am deeply impressed by the resilience, vision, and willingness of our two founders to embrace new markets,” she says.

“These fundamental qualities have undoubtedly contributed to their success, and I believe they resonate strongly with investors.”