What is Surplus Material Network?
Surplus Material Network specializes in the procurement and distribution of a vast inventory of new, used, and obsolete circuit breakers and related electrical components. Their extensive catalog features products from major manufacturers such as GE, ITE, Square D, and Siemens, encompassing items like molded case circuit breakers, air circuit breakers, mounting hardware, buss duct plugs, fusible switches, and motor starters. The company distinguishes itself by offering a specialized service to source hard-to-find electrical parts through an expansive network of over 500 suppliers and wholesalers across the nation. All products are backed by a one-year warranty, underscoring a commitment to quality and customer assurance. The firm actively engages with clients to acquire excess inventory, thereby contributing to a circular economy within the electrical supply chain.
How much funding has Surplus Material Network raised?
Surplus Material Network has raised a total of $29K across 1 funding round:
Debt
$29K
Debt (2021): $29K with participation from PPP
Key Investors in Surplus Material Network
PPP
Public-Private Partnership
What's next for Surplus Material Network?
With the recent influx of substantial expansion capital, Surplus Material Network is poised for significant growth. This strategic investment is expected to fuel initiatives aimed at scaling operations, enhancing inventory management systems, and potentially expanding their sourcing network. The company's focus on providing both readily available and hard-to-find electrical components, coupled with their warranty and inventory acquisition services, positions them to capture a larger share of the market. Future developments may include technological integrations to streamline the supply chain, broader geographic reach for their sourcing services, and an expanded product line to meet evolving industry demands. The company's trajectory suggests a move towards solidifying its position as a key player in the secondary electrical components market.
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