# Nakad

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nakad

- Industry: Financial Services
- Headquarters: Delhi, India
- Website: www.nakad.co
- Total disclosed funding: $6.7M
- Latest round: Seed (Jul 13, 2022)
- Investors on record: 4

## About

Based in India and founded in 2022, Nakad offers a tokenization mechanism that enables changes in supply chain finance. The company was founded by Ujwal Kalra, Sambhav Jain and Avinash Uttav, graduates from of IIM Ahmedabad, IIT Bombay and IIT Guwahati who previously worked at BCG, HUL and Oracle. In May 2022, Nakad raised USD 7 million in seed funding co-led by new investors Accel, Matrix Partners India and AdvantEdge, with participation from individual investors.

The company operates as an invoice discounting platform for MSMEs (micro, small and medium-sized enterprises). The platform categorizes companies in the supply chain field on the basis of their operations. If the MSME directly provides materials to big companies, it will be a tier-1 supplier, while those who provide materials to a tier-1 supplier are called tier-2 suppliers. The platform allows MSMEs to sell their invoices at a discounted rate to lenders on its platform based on the creditworthiness of the anchors (big companies).

The fund raised in 2022 will be utilized to expand the company's team in India and boost tech infrastructure and talent hiring across verticals.

## Funding rounds

- Seed, Jul 13, 2022, $6.7M — Accel, AdvantEdge Founders, Z47, Calabasas Capital

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Seed
- AdvantEdge Founders (https://capitalatlas.ai/funds/advantedge-founders) — Seed
- Z47 (https://capitalatlas.ai/funds/z47) — Seed
- Calabasas Capital — Seed