BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures

BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures

Bengaluru-based BuildTraders, an ecommerce-based building materials trading company, has raised $200K (INR 1.3 Cr) in seed funding from UAE-based Idein Ventures.

The funding will be used to enhance its technology, infrastructure and strengthen its supplier base.

BuildTraders, was launched by Ranjeet Gakhare in April 2016. It aims to make the process of building homes hassle free for both individuals and builders by providing a one-stop solution for curated construction materials procurement.

It is currently working offline in the supply of building materials and materials guidance for construction projects, based on the budget of builders or builder-owners. It is also in the process of expanding in the online space and has been on the lookout for the expansion of its top management team as well.

Yogesh Pawde, head of supply and operations, BuidTraders said, “BuildTraders is building a technology platform, which will provide the best guidance in the process of construction, through reasonable prices and curated quality in building materials segment to the customers. It is also in the process of developing a platform which helps a user virtually construct their house online while simultaneously doing it offline, using BuildTraders materials.”

Idein Ventures is a VC firm that provides funding to emerging startups, entrepreneurs, and small/medium enterprises. In June 2016, real estate startup focussed on landowners and builders, REstate, raised an undisclosed amount in Seed funding from Idein Ventures.

In July 2016, BuildTraders acquired Pune-based property management startup Cozilla in an all-stock deal.

According to an official statement, the ecommerce segment in construction is at a nascent stage in India and has the potential of becoming a $150 Bn industry.

Other startups in the online property management space include Nestaway, Homigo, Zenify and Zocalo. Zenify has also raised $900K in a pre-Series A round.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures-Inc42 Media
BuildTraders Secures $200K In Seed Funding From UAE Based Idein Ventures-Inc42 Media
You’re in Good company