Brick & Bolt, a construction services startup run by Pluckwalk Technologies, announced on Tuesday that it has raised $10 million (approximately Rs 82 crore) in a Series A2 funding round led by venture capital firms Accel and Celesta Capital.
The new funding will be used to expand the Bengaluru-based company’s tech stack and leadership team, as well as its geographical footprint.
Brick & Bolt, founded in 2018 by Jayesh Rajpurohit and his brother Arpit, offers end-to-end services such as home construction, commercial construction, and building materials. It also connects architects and contractors with homeowners who are building or planning to build a home.
Jayesh Rajpurohit stated, “The Indian real estate is earmarked to be a $650 billion market in 2025 and a $1 trillion worth sector in 2030. With 85% of construction still unorganised in India, we are on a path to capture the market using our technology and processes.”
Commenting on the fund raise, Mahendran Balachandran, Partner, Accel, said, “The Indian standalone homes market is ripe for tech-led disruption. With the market conditions and macro environment, Brick& Bolt is positioned to use this opportunity.”
Brick & Bolt received $1.5 million in pre-Series A funding in 2020, led by Sequoia India’s scale-up programme, Surge. Anuj Srivastava and Ramakant Sharma of Livspace, Aakash Goel of Trifecta Capital, Meghna Agarwal of Indiqube, and Navin Dhanuka of Piramal Fund Management also took part in the round.
Brick & Bolt then raised $2.2 million in a Series A round led by Germany-based construction-focused fund Foundamental.
Categories: Knowledge Series, Startups & SMBs
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