A Melbourne-based startup specializing in construction supply chain management, Matrak, recently concluded a successful Series A funding round, raising $2.9 million. This milestone investment is geared towards the company’s strategic expansion into the Chinese market.
Leading the Series A round were G&M Capital, based in Singapore, and Our Innovation Fund from Sydney, alongside notable backers such as former Aconex chairman Simon Yencken and other investors.
Matrak, co-founded in 2018 by Shane and Brett Hodgkins, has positioned itself as a pivotal player in connected materials tracking within the global construction supply chain ecosystem. Its innovative platform caters to manufacturers, suppliers, and builders, offering streamlined processes that significantly mitigate risks associated with supply chain management.
The inception of Matrak stemmed from a practical need observed at a construction site, where Brett Hodgkins, while pursuing a master’s degree in computer science, also worked part-time for his father’s window installation company.
The software platform has already gained traction, boasting over 280 clients across 400 construction projects. Notable projects include the Queen’s Wharf development, Melbourne’s iconic 65-storey Aspire tower, the Mater Hospital, in addition to various educational, commercial, aged care, and data center facilities. Matrak has effectively tracked over 1.2 million materials for its diverse clientele, which includes major industry players like Multiplex, Lendlease, John Holland, Winning Appliances, Bluescope, and Buildcorp.
In a strategic move, Matrak recently inaugurated its China office in Suzhou, backed by investors affiliated with the China-Singapore Suzhou Development Corporation, a key entity behind Suzhou Industrial Park’s development.
The company’s client base spans across Southeast Asia and China, extending to markets in Australia, the UK, Canada, and the US.
Shane Hodgkins, CEO of Matrak, expressed gratitude for the support from both existing and new investors, emphasizing the importance of international expansion in the global construction landscape. He highlighted the role of initiatives like the Austrade Landing Pads program, which facilitated connections with G&M Capital, streamlining Matrak’s access to overseas funding and strategic partnerships.
Lim Gu, founder of G&M Capital, emphasized the firm’s focus on the smart construction sector and its commitment to enhancing transparency and trust within global manufacturing supply chains. Investing in Matrak’s China office aligns with their vision of supporting innovative startups with a global impact.
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By Proptechbuzz
By Ravi Kumar
