Building materials supply chain startup GlobalFair on Thursday said it has raised USD 20 million (over Rs 165 crore) in a funding round led by Lightspeed.
The Series A funding round, which was a mix of equity and debt, also witnessed the participation of Saama Capital, India Quotient, AUM Ventures and Stride Ventures, GlobalFair said in a statement. The fresh funds will help deepen manufacturing base across India and Vietnam, launch capital finance solutions and build a sustainable end-to-end synchronised cross border supply chain accessible online to global buyers, it added.
Also, this will be used to grow the team, scale business and build new products. It plans to expand the current 110 members team spread across the US, Vietnam and India, and launch new supply bases. GlobalFair said it specialises in ready to install custom products across the entire multi-family residential and commercial hospitality segment in the US.