Formwork Labs Alum Secures $750K Pre-Seed Round to Transform Material Procurement

MatBook, a materials procurement startup and alum of Formworks Lab Spring 2024 cohort, has secured $750,000 in pre-seed funding to address volatility in the global construction materials market. The round was led by Seedstars International Ventures, Fluent Ventures, and Everywhere Ventures, with support from angel investors affiliated with Autodesk and Amazon.

In a sector challenged by shifting tariffs, disjointed sourcing across geographies and suppliers, rising costs, and inconsistent material specifications, MatBook offers a tech-forward solution. The company’s AI-powered platform enables U.S. contractors and distributors to source materials directly from a global network of vetted manufacturers, bypassing traditional intermediaries.

“Our vision is clear: we are transforming how construction materials are procured on a global scale,” said MatBook CEO Harsh Badera, who previously served in roles for Procore and Katerra, in a statement. “The industry has long struggled with inefficiencies, inflated costs, and a lack of transparency. By giving buyers direct access to vetted manufacturers, we are not just cutting costs—we’re redefining reliability and efficiency in the supply chain. MatBook is more than a procurement platform; it’s a movement toward a smarter, more connected industry.”

MatBook integrates sourcing, shipping, quality assurance, and financing into a single, end-to-end system, aiming to provide a more efficient alternative to the industry’s infamously fragmented supply chains. The platform’s quality control framework and real-time trade intelligence work to mitigate risks and keep every order to a high standard.

Alongside Badera, the company’s leadership team includes a variety of industry veterans and skillsets in construction tech and B2B marketplaces, including its CTO Nasir Hussain, who formerly lead the software and data teams at OfBusiness; CRO Raghav Malhotra, who has experience in large-scale government and infrastructure projects; and COO Shubham Sharma, who specializes in material sourcing.

How MatBook Plans to Use the Funding To Improve Its Material Procurement Offerings

With this new funding, MatBook plans to grow its U.S. presence.

“We’re deepening our presence in key states, such as New York, New Jersey, Texas and George,” Badera told BuiltWorlds. “In addition, we plan to expand into Florida and North Carolina later this year—targeting regions with the highest concentration of active construction projects.”

The company also plans to enhance its AI tools, with Badera specifically mentioning upgrades to MatBooks’ datsasets as well as it cloud and model to support more product categories, higher-resolution visual data, and real-time processing. This alongside additional hiring key departments.

Said Badera, “We’re hiring engineers and AI specialists to enhance our proprietary systems for document parsing, product matching, defect detection, and pricing intelligence.”

Ultimately, MatBook’s expansion is two-fold, the CEO explains, including both a broadening of categories as well as its customer footprint.

“We’re broadening our material portfolio beyond tiles, quartz, and vinyl to include cabinets, furniture fixtures, wall panels, and more—categories where procurement is still highly fragmented and plagued by quality inconsistencies,” Badera said. “We’ll continue onboarding new customers while increasing wallet share with existing ones by offering a more comprehensive product mix and integrating more tightly into their material planning and procurement cycles.”