Real-estate and construction sector focused company BuildSupply in series A funding round, held earlier this December, gets a total of $3.5 million investment. Participants of the round were Venture Highway, India, and Silicon Valley-based investment firm; Amit Singhal, former head of Google search; GreenOak, GREE Ventures, co-founders of Livespace, and the Space Matrix group.
Delhi: BuildSupply was founded in 2016 at Gurugram by Sameer Nayar who formerly held the office of real estate head at Asia-Pacific, Credit Suisse.
Its co-founder is Sarit Sethi, the former executive at M+W group. BuildSupply is presently owned by Archer Technologies. The firm introduces enterprise resource planning system. This software platform aims at automating the workflow in development and construction projects between the contractors and developers yielding transparency in plug leakages and providing the most cost-effective model for projects.
Currently, BuildSupply operates in the National Capital Region (NCR), Bangalore and Mumbai. The company at present has Vatika developers, Godrej Properties and Embassy group as clients. It’s working on about 94 projects having an estimated total value of $1.4 billion. The company holds about 50 million sq. ft. of digital real estate at present.
BuildSupply plans to extend its reach to 10 metro cities and about 1000 companies working in construction and development areas. Also, it has plans to expand its digital real estate from 50 million sq. ft. to a digital real estate of 300 million sq. ft. and increase its projects numbers in the upcoming 18 months. Samir Sood, the founder of Venture Highway said that the investment upholds their resolution of supporting exceptional companies to expand their work overseas in order to get a long-term advantage.