Brick&Bolt raises $1.5 mn from Sequoia Surge1 min read . Updated: 11 Feb 2020, 08:12 PM IST
The company will use the funds to enhance its core technology platform, grow its team and expand its business to Tier-1 and Tier-2 cities across India
PluckWalk Technologies Pvt Ltd, that runs Brick&Bolt, an e-commerce platform for the construction industry, has raised $1.5 million in a pre-Series A funding round, led by Sequoia India’s scale-up programme, Surge. Livspace founders Anuj Srivastava and Ramakant Sharma, Aakash Goel of Trifecta Capital, Meghna Agarwal of Indiqube and Navin Dhanuka of Piramal Fund Management, also participated in the round.
The Bengaluru-based company will use the funds to enhance its core technology platform, grow its team and expand its business to Tier-1 and Tier-2 cities across India.
Brick&Bolt’s construction services platform connects contractors and architects to customers, enables transparent pricing and also levies penalties on the service provider in case of delays, the firm said. Its AI-based engine predicts work schedules and manages quality and progress of ongoing projects.
Founded in 2018 by Jayesh and Arpit Rajpurohit, Brick&Bolt now operates in the residential construction segment and has 260 projects in Bengaluru. The company plans to enter the commercial construction (business-to-business) market in the next few months, the statement added.
“The construction industry in India is poised to reach $640 billion in 2022, aided by government initiatives in infrastructure development and affordable housing. Between now and 2035, 17 of the 20 fastest growing cities in the world will be in India. Through Brick&Bolt, we want to tap into this massive market, providing a platform that combines technology with transparent processes, making the construction industry organised, accessible and seamless for the both residential and commercial users," said Jayesh Rajpurohit, co-founder, Brick&Bolt.