PALO ALTO, CA, Field Materials, an AI software startup with a bold vision to disrupt the $2 trillion global market of construction material purchasing, has raised a $4.65 million Seed round.
The round was led by Blumberg Capital with participation from Zacua Ventures. Founders Eldar Sadikov and Victor Gane are Stanford-educated serial entrepreneurs who sold their previous company to PayPal in 2018 and have backgrounds in AI, payments, e-commerce, and construction. The round is joined by prominent industry executives including the former SVP of Lowe's and former VP of Home Depot, GM of Payments at Google, and a co-founder of YouTube.
Field Materials' mission is to digitize the procurement process of construction materials. Their software platform empowers contractors and vendors to streamline every aspect of procurement, free up their time for more valuable work, and generate margin gains and cost savings.
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