Buildkar, an online construction hardware provider, has raised an undisclosed amount of funding from Mustafa Wajid (Meher Group CEO), Umang Kumar (Founder of Gaadi.com) and other angel investors.
The company plans to use the funds in upgrading technology, logistics, product portfolio expansion and marketing of the product. The company comes under Apnastock Solutions Pvt Ltd. Though it was previously known as ApnaStock, its name was revamped as people might confuse it with a financial advisory company.
Founded by Vinit Bhansali and Thejaswi Udupa in October 2014, the company acts as an eCommerce platform that sells building materials like sand, pipes, cement, steel, bricks, plywood, etc. This Bangalore based startup include features like price discovery, get quotes and delivery for construction supplies.
The company claims to have listed 20,000 industry products, also it is planning to include civil engineers, decorators, architects, electricians and plumbers to make the platform one stop for every housing solution.
Vinit is alumni of New Jersey Institute of Technology and Rutgers University, also, he co-founded Adeena and CopperSpiral. Thejasvi has been an alumni of IIM-B and has worked with Yahoo for eight years.
The construction space has been hot for quite a long time and investors are eyeing on the same. eConstructionMart, Tolexo and Industrybuying are feplayers who are doing well in this segment.
As the market is growing by the day, construction materials sector has a lot potential in the coming years. After the central government’s announcement on the ‘Smart Cities’ initiative, the building sector is rising at a fast pace. PM Narendra Modi has always been in favour of infrastructural development and since his arrival in the central ministry the market has for sure seen growth in the sector.