Brick&Bolt raises $2.25 mn from Fundamental Capital: Report

Brick&Bolt raises $2.25 mn from Fundamental Capital: Report
Photo Credit: 123RF.com
28 Aug, 2020

Pluckwalk Technologies, which owns and operates construction services platform Brick&Bolt, has reportedly raised $2.25 million (Rs 16.5 crore) in a Series A round of funding from German investment management company Fundamental Capital.

In February, the Bengaluru-based company received $1.5 million in a seed funding round led by Sequoia Capital India’s accelerator programme, Surge. Other investors in the company include Livspace co-founders Anuj Srivastava and Ramakant Sharma; Aakash Goel, partner at Trifecta Capital; Indiqube co-founder Meghna Agarwal; and Navin Dhanuka of Piramal Fund Management.

The latest development was first reported by Entrackr

Founded in 2018 by siblings Jayesh Rajpurohit and Arpit Rajpurohit, the company caters to the $640 billion construction sector in India, and provides services to both residential and commercial users.

The end-to-end marketplace helps customers find contractors and check quality and price escalations for ongoing projects. The company uses artificial intelligence and computer vision to manage quality and progress of projects.

The largely unorganised space has seen a rise in the number of venture funded startups, such as business-to-business marketplace for procurement for construction materials Infra.Market, which raised $26 million in a Series A funding round, led by Tiger Global Management, in December 2019.