IAN Invests In DesignBids, Marketplace For Architectural Services

Delhi-based marketplace for architecture and interior design services, DesignBids, has raised an  undisclosed amount of funding from the Indian Angel Network.

The startup will use the raised funds to improve its technology, expand the team and scale up operations in all the major metros.

Ambarish Raghuvanshi and Arihant Jain led the round of investment on behalf of IAN and will join  DesignBids’ board to mentor the team.

DesignBids was launched in 2015 by IIT Roorkee alumnus, Nithish Joseph Monson and CS graduate, Shreya Bisht, with an aim to connect project owners with architects and interior designers. The startup works on a reverse-auction mechanism similar to the floating of tenders, which is commonly practiced for government projects.

Nithish Joseph Monson, Founder and CEO of DesignBids, said, “DesignBids aims to centralise India’s Architecture ecosystem, which is currently disorganised with thousands of small players acting independently, We wanted to streamline the process.”

Since its inception, the startup has acquired 100+ projects with 300+ designers and is present in Bangalore, Delhi and Mumbai. The projects include home interiors, offices, cafes, commercial architecture, hostels, salons, among others.

How It Works

• A project owner posts their requirement on DesignBids, and it becomes visible to all designers/architects in that area/city.
• Interested designers submit their proposal/bid for the project, which includes the total budget of the work, a brief portfolio or description of the firm and a rough design of the concept.
• The project owner then shortlists and selects a designer on the basis of the proposed budget, portfolio, design concept and reviews.

According to co-founder Shreya Bisht, “Construction is a massive industry in India with a market size of $120 Bn and Construction tech is widely predicted to be the next big startup wave globally. There are hardly any offerings in this space in India. Moreover, the industry at the moment runs on a strong offline recommendation and referral system. Therefore, online visibility and engagement are very limited in this segment at present. DesignBids aims to be the enabler of construction-tech startups in India”.

Designbids is a pivot from CadMonky, a previous venture of the founders. Cadmonky was a US-based crowdsourcing platform for CAD, 3D modelling and rendering of architectural jobs.

Going further, DesignBids aims to include contractors, technical consultants, developers, and other service providers to provide an A-Z portal for Design and Construction.

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