Bangalore-based construction materials marketplace, Buildkar, has raised an undisclosed amount in seed round funding from Mustafa Wajid – Meher Group CEO, Umang Kumar – founder of Gaadi.com and other angel investors.
This round also saw participation from Naresh Narasimhan (architect), Prasad VL (MD at Teligenz) and Sameer Govani of Total Equipment Solution.
The funds raised will be utilised for technology upgradation, improving logistics, product portfolio expansion and marketing.
Founded in 2014 by Vinit Bhansali and Thejaswi Udupa, Buildkar, (previously ApnaStock) is an ecommerce platform construction materials such as sand, pipes, cement, steel, plywood among other materials. Besides, it also provides technology solution to help reduce and optimize construction material prices for small builders and home owners.
Currently operational in Bangalore, Buildkar, facilitates access to 20,000 construction industry products. Besides helping with price discovery, instant quotes and delivery for construction & building material supply, the startup is now looking to facilitate discovery of civil engineers, architects, decorators, electricians and plumbing contractors on its platform.
In this space, startups who have grabbed funding include, Delhi-based B2B online marketplace for industrial material, Industrybuying.com raised an undisclosed amount of funding from Murugappa and TVS Families and Mumbai-based, Bizongo, a B2B marketplace for industrial goods, raised an undisclosed amount in seed funding from Accel Partners.
Other players operating in this segment include Tolexo, BazarA2Z, Alliedhunt among others.
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