Nigerian construction tech startup Cutstruct has raised US$1.5m in a seed round of funding to help it scale operations.
Founded by John Oamen and Tayo Odunsi, CutStruct has developed a construction procurement marketplace that allows buyers like real estate developers and contractors to engage vetted vendors while enjoying other services such as transportation, goods-in-transit insurance and trade credit.
The startup raised US$600,000 in pre-seed funding back in November 2022, and has now closed a US$1.5 million seed round led by CRE Venture Capital, Other backers include E3 Capital, Techstars, and Zedcrest.
Cutstruct will use the funding to help it scale operations within Nigeria, enhance its platform, grow its supplier network, and expand its delivery capabilities.
