BuildSupply, a prop-tech startup, has announced that it has secured an undisclosed amount of funding in its pre-Series A funding round.
The funding round saw participation from GREE Venture; Venture Highway; Sonny Kalsi founder of GreenOak Real Estate; and Sameer Brij Verma of Nexus Partners; among others.
The startup is now planning to utilise the raised funding to expand their product and technology team while establishing a base across major metro cities of India.
Commenting on this funding, Sameer Nayar, Founder of BuildSupply said:
Real Estate and Construction is one of the largest industries in India with a tremendous multiplier effect. Our product allows for companies to create tremendous scale and operational efficiency. It can help create cost savings of 8-10% in a single project.
Nikhil Kapur, Senior Investment Manager at GREE Ventures, said:
While India is on a solid path to be the largest construction market globally, internally the real-estate developers, both private and public, face tough challenges in cost estimation, transparent procurement, and vendor management. BuildSupply’s solution is coming at an opportune time, leveraging on the GST and RERA frameworks, to solve these key challenges for the industry.
BuildSupply was founded last year by Sameer Nayar, Nipun Yadvinder, and Sarit Sethi. It is an advanced ERP system for the Real Estate and Construction industry, which aims to bring about standardization and transparency in the Real Estate Development and Construction processes.
The company’s product is easy to adopt and offers functional solution. It is being used by leading companies like Godrej Properties Limited, SARE Homes and Nelson India.