Bengaluru-based buildings marketplace Homergize has raised Rs 6.5 crore in a pre-series A round of funding from LG Chandraskhar, founder of medical device company Sutures.
Homergize is a technology- based sourcing and services company that caters to all construction and remodeling needs of customers and businesses
LG Chandraskhar - investor, social entrepreneur and Founder of Sutures India, a medical device company has invested in Homergize.
Founded in 2016, the company is an e-marketplace in the construction, interior design and home-improvement domains. It is a tech-augmented consolidator and intermediary between buyers and vendors for a wide spectrum of products ranging from building materials, electricals, flooring, plumbing, safety and security to furnishings and fittings.
“The high GDP growth rate and the regulatory cleanup of the segment makes it exciting phase for the construction industry. We believe, technology interventions such as Homergize, will go a long way in optimizing construction and enhancement cost, enhancing value across the sector. We are committed to delivering best in class products at value prices through constant innovation to create an ecosystem that adds value to all stakeholders including consumers, developers, designers and professionals,” Vinod Kaushik, co-founder, Homergize said in a statement.
With the current round of funding, Homergize will focus on enhancing technological capabilities, enabling geographical expansion and to tap new service revenue streams.
Having witnessed significant growth in the Bangalore market, the company plans to expand its services to other cities with a population of over one million.
Homergize says that its expansion plans are based on an increased geographical footprint, and on targeting a wider spectrum of Builders, Architects and Contractors, among others.
Alongside the website, the startup is also developing a mobile app to ease the purchase process and to provide on-the-tap transaction records and analytics to clients. Also on the anvil are user-friendly tools for estimation and BOQ conversion.