Buildzar.com, a Gurgaon based marketplace for home construction and home renovation, has raised $4 million from individual investor Puneet Dalmia in pre-series A funding.
Puneet is the MD & CEO at Dalmia Bharat Limited and an MBA from IIM Bangalore. He was the Co-Founder of JobsAhead.com (later acquired by Monster.com)
“The funds will be used for developing technology based productised solutions, expansion of our product and services offerings in categories like green home solutions, smart-home solution, pre-fabricated building solutions and, marketing activities,” said Vineet Singh, Co-Founder, CEO & MD, Buildzar.com.
“Individual home construction market stands at about $150 billion today and is rapidly growing. It is, however, largely fragmented and remains marred with basic issues of trust and quality,” he added.
This consumer-internet platform caters to individual home builders, apartment owners and small and medium sized builders and contractors.
The company was founded by Vineet Singh, ex-business head of 99acres.com, Swapnil Tripathi, ex-Head Consumer Operations at GoIbibo and Vivek Sinha, ISB Hyderabad alumnus and a construction industry professional in September 2015.
The company claims to have already clocked a GSV (Gross Sales Value) of Rs 75 million and receives 750-800 orders on a monthly basis since the beginning of its operations in September 2015, with steel and cement being the leading categories.
While their current focus is on consolidating the business in the Delhi NCR region, which alone is valued at $ 9-10 billion, in the next 6 months they aim to expand their operations across southern markets starting with Bangalore, Chennai & Hyderabad.
Source: The Economic Times
