Nexprt plans to use the funds to scale its existing business and launch new business verticals in the manufacturing domain
Currently operable in the home decor segment, the startup is eyeing a 5x growth in the next few months, as soon as its second manufacturing facility is up and running in Jodhpur
Nexprt provides tools and technology such as 3D printing, CNC machining and laser cutting, raw material support with 1000+ SKUs across hard goods, natural fibres, as well as supply chain backing for domestic as well as international sales, to the unorganised manufacturing sector
Delhi NCR-based B2B cross-border manufacturing and commerce startup, Nexprt has raised $5 Mn in a seed round. Led by Sequoia Capital India and Lightspeed, the round also saw participation from Titan Capital and other notable angel investors.
The startup plans to use the funds to scale its existing business and launch new business verticals in the manufacturing domain.
Founded in 2020 by Harsha Vardhan Kalipatnapu, Manav Garg, and Kunal Jain, Nexprt provides a full-stack vertical commerce business to standardise manufacturing. It is building category-specific solutions, beginning with the home décor category and expanding to other business verticals over the next few months.
The startup provides tools and technology such as 3D printing, CNC machining and laser cutting, raw material support with 1000+ SKUs across hard goods, natural fibres, and supply chain backing for domestic as well as international sales, to the unorganised manufacturing sector.
According to the startup, Nexprt has built a sales team across multiple continents to open up demand channels. It has further invested in manufacturing-related innovations and processes, enabling the team to execute at scale in India. It has previously raised $200K from Titan Capital in an angel round in March 2021.
It has a state of the art in-house manufacturing facility in Moradabad and plans to open another facility in Jodhpur in January 2022. Currently, on track to building a one-stop decor solution in India for global clients, the team is eyeing a 5x growth in the next few months in the decor business once these facilities are up and running.
Cross-border ecommerce is projected to have strong potential in India, especially for the MSME segment, as they produce goods that are largely used by the retailers. The manufacturing and exports market stood at $229 Bn in 2019 (before the pandemic), and is expected to rise exponentially.
Tapping into the market, and competing with the likes of Zetwerk, Nexprt will invest in new business verticals outside of home decor, with an aim to play a bigger role in the shift of global commerce to India.
