Brokrete

History

2021: Raising $3 million of investments, including from Xploration Capital

At the end of July 2021, the Russian fund Xploration Capital invested in a platform for the Brokret construction materials market. The startup raised $3 million, which it intends to use to expand the company in the markets of North America and Europe. Other investors include Ronald Richardson, Avlock Coley (CEO of AngeLlist Ventures) and MaRS Investment Accelerator Fund (IAF).

Russian fund Xploration Capital invested in platform for construction materials market Brokret

Jordan Latourelle, founder and CEO of the company, explained that Brokret Storefront's e-commerce platform will provide construction industry suppliers with tools that will dramatically increase the efficiency of their operations. Brokret states that the Storefront platform is focused on its customers and allows them to create "electronic storefronts" and manage orders directly on the Internet. Suppliers only need to install the e-commerce app iOS and Android to receive offline orders from more "traditional" customers, and the platform will help them manage orders, pay, ship, logistics and real-time delivery. Brokret claims to work with more than 1,000 contractors and supports a network of more than 250 suppliers.

Managing partner of Xploration Capital Yevgeny Timko noted:

Construction is one of the few large industries with non-digitized supply chains. Historically, the key problem was the lack of real-time access to real-world inventory data, which prevented manufacturers and distributors from using the Internet for orders. Now, thanks to Brokret's comprehensive solution, these companies will be able to control their supply chains through the network. This will allow thousands of offline enterprises to start accepting orders online.[1][2][3]

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