Buildzar.com, Indian marketplace for home construction and home renovation, has raised $4 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, labor services and materials, Buildzar claims that it aims to concretize its position as the de-facto platform for all home building related products and services by leveraging technology and offering productized solutions to its consumers.
The company 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 etc. and BuildMyHome – a curated platform for design and contracting services with over 70 contractors and architects on its platform.
Buildzar was founded by Vineet Singh, ex-business head of 99acres.com and an experienced internet professional, Swapnil Tripathi, ex-Head Consumer Operations at GoIbibo and a former entrepreneur, and Vivek Sinha, ISB Hyderabad alumnus and a construction industry professional.
The business has already clocked a GSV (Gross Sales Value) of Rs. 75 million, and is helping over 600 consumers across Delhi/NCR build their dream homes. It started operations in September 2015 with its building materials marketplace, and then launched the ‘Turnkey Solutions’ platform in December 2015.
The company is live on desktop and mobile through its Android and iOS app. It is already clocking 750-800 orders on a monthly basis since the beginning of its operations, with steel and cement being the leading categories. 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.
The first innovation at Buildzar was their estimation tool Beztimate, which solves the problem of the consumer – clarity on construction cost, time, and quantity of material. The firm came up with several other innovations in its Material Store offerings like organizing the entire store by budget, bundling of products and selling the entire Bill of Materials (BOM) rather than selling individual SKUs. In the recently-launched BuildMyHome offering, the company offers hassle-free building and renovation experience to the consumer by providing end-to-end design, supply and build solutions through professional service providers, standardized rates and service level agreements (SLAs).
Talking about the latest round of funding, Puneet Dalmia, MD & CEO Dalmia Cement Bharat Ltd, said, “With its promise of 100% guaranteed quality at best prices, and a strong consumer focus, Buildzar is pegged to resolve the pain points in the construction services industry in India through its unique O2O (online-to-offline) model.”
The firm is also developing project management tool, through which a home builder can monitor all construction related metrics like cost incurred, projected completion timelines, inventory etc. on a real time basis and can also receive live feeds, alerts and updates on his project.
Other players who are operating in this space include New Delhi-based Industrybuying.com, which raised funding from venture debt firm Trifecta Capital. In October 2015, Mumbai-based Bizongo raised an undisclosed amount of funding from Accel Partners. And earlier this month, Bangalore-based construction materials marketplace, Buildkar, closed seed funding from Mustafa Wajid – Meher Group CEO, Umang Kumar – founder of Gaadi.com and other angel investors.
Buildzar also competes with New Delhi-based Rockethomes, a marketplace for construction materials along with options for home decor, landscaping etc.Category Investments News