Construction management app Powerplay raises $5.2 million in funding
- Powerplay will use the funding for building its team and improving its product experience
Construction management app Powerplay on Friday said it has raised $5.2 million in funding led by Accel Partners and Sequoia Capital India’s accelerator program, Surge.
According to the company, it will use the funding for building its team and improving its product experience.
The two-year-old startup's mobile app connects multiple stakeholders involved in construction, enabling them to communicate and collaborate more efficiently.
Project managers, workers and partners can use Powerplay’s platform to help them track their progress, deliverables and payments, as well as streamline the often complex and multi-stakeholder project management process.
“Powerplay comes at a time when the construction industry in India is ripe for digital disruption. By empowering construction workers and contractors with technology, we are driving the growth of crucial infrastructure required for economic and social progress in the country,” said Powerplay founder and chief executive officer, Iesh Dixit.
With the Powerplay app, contractors can chart their project completion progress, and also use the platform to track employee attendance, budgeting and invoicing, as well as issues and material management.
According to the company, the construction sector in India is the country’s second-largest contributor to GDP, and currently employs 16% of the working population.
Yet very few tech solutions have emerged to help digitise the construction process—a need that has been accelerated by the pandemic, the company added.
Above that, the industry is dominated by small and medium contractors, who still rely on pen, paper and Whatsapp to track progress and struggle to maintain visibility over the work of many stakeholders involved. As a result, construction projects often face very costly delays when initial time and budget estimates go wrong, the company said.
Powerplay is an operating system for all construction stakeholders including builders, contractors and subcontractors to build projects of all sizes, from tallest buildings to longest roads.
The Bengaluru-based startup was also a part of Surge’s fifth and largest cohort of 23 companies.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:9 Jul 2021, 09:32 AM IST
- Top Gainers
- Top Losers
- 52 Week High