California based Venture Capital firm has seen the potential for technology in the steel industry. They have backed the Santa Monica tech start up, EOXS as part of their accelerator program.
The trillion dollar industry has worked in a traditional way for a long time. Reports analyze the impact of technology in improving efficiencies, cutting costs and increasing profitability.
Mucker has recognized the immense importance of technology in such an industry, especially since new technologies has become a business imperative in 2020.
The demand for steel is projected to rise by 6.4% in 2021. An investment in innovation and technology promises a good return on investment and Mucker Capital has sensed the trend.
EOXS is a technology company founded by Rajat Jain in 2019. The company provides a SaaS platform for steel businesses. They integrate business operations in an easy to use platform for buyers and sellers to engage with each other. Rajat has over 12 years of experience in the steel industry where he wore multiple hats from building ERP solutions, to leading sales roles.
Mucker Capital is a Santa Monica based Venture Capital firm that was founded by Erik Rannala and William Hsu in 2011. Seeking to invest in seed and pre seed investments, they are one of the early backers of companies like Honey, which was bought out by PayPal for $4billion. They have a preference for companies in the internet software, services, and media sectors.