Delhi-based, DesignBids, a marketplace for architecture and interior design services, has secured an undisclosed amount of funding from Ambarish Raghuvanshi and Arihant Jain on behalf of Indian Angel Network. As per the deal, both of them will join the company board.
The company will use the freshly raised capital to improve its technology, expand the team, and scale up operations in all the major metros.
DesignBids is a platform that connects project owners with architects and interior designers by using a reverse-auction mechanism. The process is very similar to the floating of tenders, which is commonly practiced for government projects.
The company was founded in November 2015 by Nithish Joseph Monson and Shreya BishtDesignBids. It has acquired 100+ projects with 300+ designers registered on the website. The projects include home interiors, offices, cafes, commercial architecture, hostels, salons, among others.
Commenting on the development, Monson said, “DesignBids aims to centralize India’s Architecture ecosystem, which is currently disorganized with thousands of small players acting independently. We wanted to streamline the process”. said Monson.
In the long term, DesignBids aims to evolve to include contractors, technical consultants, developers, and other service providers. The vision is to provide an A-Z portal for Design and Construction.