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Buildzar raises four million USD in pre-series A funding | Canindia News

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Buildzar raises four million USD in pre-series A funding

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CanIndia New Wire Service 0 comments

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New Delhi, Jan. 27 (ANI): Buildzar.com has announced receiving USD four million from individual investor Puneet Dalmia in pre-series A funding. This consumer-internet platform caters to individual home builders, apartment owners and small and medium sized builders and contractors.

Offering end-to-end ‘turnkey’ solutions including design, labour services and materials, Buildzar.com aims to be the leading platform for all home building related products and services by leveraging technology.

The website offers a comprehensive bouquet of products and services under two verticals: The Material Store – a marketplace having over 20,000 products related to civil, electrical, plumbing, paints, flooring, kitchen bathroom and BuildMyHome – a curated platform for design and contracting services with over 70 contractors and architects on its platform.

In the 150 billion USD individual home construction market, the company says that over 30,000 new houses are constructed every year in Delhi NCR, where the average cost of building a house ranges between INR 6 million- 100 million.

Having faced such problems while building their own homes, Vineet Singh and Puneet Dalmia felt the need to simplify the process of building a home for the commoner.

Talking about the latest round of funding, anchor investor Puneet Dalmia, MD and CEO Dalmia Cement Bharat Ltd, said, “Buildzar.com has etched out a clear path to profitability on the back of its first mover advantage, an outstanding team, asset-light operations and a revenue-focused approach.”

The first innovation at Buildzar was their estimation tool Beztimate, which solves the foremost problem of the consumer – clarity on construction cost, time, and quantity of material.

In the recently-launched BuildMyHome offering, Buildzar offers hassle-free building and renovation experience to the consumer by providing end-to-end design, supply and build solutions through qualified and professional service providers at standardized rates.

Talking about the venture, Vineet Singh, Co-Founder, CEO and MD, Buildzar.com said, “The fact that the new age customer is younger, internet-savvy, and is willing to pay for standardization and quality, makes this business even more exciting for us. Our vision is to give consumer the power to manage a complex thing like construction using only on mobile phones”.

The website is available on desktop and mobile through its Android and iOS app. Since September, it has clocked around 750-800 orders on a monthly basis.

While the company’s current focus is on consolidating the business in the Delhi NCR region, which alone is valued at 9-10 billion USD, in the next six months they aim to expand their operations across southern markets starting with Bangalore, Chennai and Hyderabad. (ANI)

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