Quick Summary:
- Cutstruct raised $1.5 million to scale its construction tech platform.
- The startup connects developers and contractors to verified vendors.
- New funding will support technology upgrades and nationwide expansion.
- Investors include CRE Venture Capital, E3 Capital, Techstars, and Zedcrest Capital.
Cutstruct, a Nigerian startup transforming construction procurement, has raised $1.5 million in seed funding to fuel its growth and expand its impact in Nigeria’s construction industry.
Transforming Construction Procurement
Founded by John Oamen and Tayo Odunsi, Cutstruct runs a digital construction procurement marketplace. The platform connects real estate developers, contractors, and buyers with vetted vendors.
Cutstruct simplifies the procurement process by offering:
- Transportation logistics
- Goods-in-transit insurance
- Trade credit services
These features help reduce delays, inefficiencies, and other common challenges in construction supply chains.
Backed by Leading Investors
The funding round was led by CRE Venture Capital, with support from E3 Capital, Techstars, and Zedcrest Capital.
This follows a $600,000 pre-seed round raised in November 2022, underscoring strong investor confidence in Cutstruct’s growth potential.
Expansion Plans
With the fresh capital, Cutstruct aims to:
- Scale operations across Nigeria, focusing on key cities with high construction activity
- Upgrade its technology platform for a better user experience
- Expand its supplier network to offer buyers a wider selection of trusted vendors
- Strengthen delivery and logistics capabilities to ensure faster and more reliable material fulfillment
Building a Smarter Construction Ecosystem
John Oamen, CEO and co-founder of Cutstruct, said:
“Our mission is to digitize and simplify construction procurement in Africa. This funding allows us to build a more transparent, efficient, and scalable ecosystem for the construction industry.”
As construction and infrastructure development grow across Africa, Cutstruct is positioning itself as a key player in modernizing construction procurement and driving efficiency in the sector.