Buildzar.com, Gurgaon-based consumer-Internet platform
caters to individual home builders, apartment owners and small and medium sized
builders and contractors, has received $4 million funding from individual
investor Puneet Dalmia in pre-series A funding.
Offering end-to-end 'turnkey' solutions including design,
labor services and materials, Buildzar.com aims to concretize its position as
the de-facto platform for all home building related products and services by
leveraging technology and offering productized solutions to its consumers, a
press release said.
Talking about the venture, Vineet Singh, Co-Founder, CEO
& MD, Buildzar.com said, "Building a home is perhaps the longest and
highest value transaction in an individual's lifetime. The fact that the new
age customer is younger, Internet-savvy, and is willing to pay for
standardization and quality, makes this business even more exciting for us. Our
vision is to give consumer the power to manage a complex thing like
construction, using only their mobile phone."
About the latest round of funding, Puneet Dalmia, MD &
CEO Dalmia Cement Bharat Ltd, said, "Buildzar.com is leading the market
with little competition when it comes to the kind of services and product
portfolio it provides. It has etched out a clear path to profitability on the
back of its first mover advantage, an outstanding team, asset-light operations
and a revenue-focused approach. With its promise of 100% guaranteed quality at
best prices, and a strong consumer focus, Buildzar is pegged to resolve the
pain points in the construction services industry in India through its unique
O2O (online-to-offline) model."
Buildzar.com offers a comprehensive bouquet of products and
services under two verticals: The Material Store - a marketplace having over
20,000 products related to civil, electrical, plumbing, paints, flooring,
kitchen bathroom etc. and BuildMyHome - a curated platform for design and
contracting services with over 70 contractors and architects on its platform.
In the $150 billion individual home construction market,
30,000 new houses are constructed every year in Delhi NCR itself, where the
average cost of building a house ranges between INR 6 million - 100 million. The
market, however, is largely fragmented and remains marred with basic issues of
trust and quality.
Buildzar came up with several other innovations in its
Material Store, offerings like organizing the entire store by budget, bundling
of products as per construction stage into 'Combos', and selling the entire
Bill of Materials (BOM) rather than selling individual SKUs. In the
recently-launched BuildMyHome , Buildzar offers hassle-free building and renovation
experience to the consumer by providing end-to-end design, supply and build solutions
through qualified and professional service providers, standardized rates and service
level agreements (SLAs), guaranteed-adherence to project cost and timelines,
and warranties up to seven years.
The team is developing project management tool, through which
a home builder can monitor all her construction-related metrics like cost-incurred,
projected completion timelines, inventory etc. on a real-time basis and can
also receive live feeds, alerts and updates on his project.
Buildzar is live on desktop and mobile through its Android
and iOS app. It is already clocking 750-800 orders on a monthly basis since the
beginning of its operations in September 2015, with steel and cement being the
leading categories. With an integrated effort to scale higher margins through
its turnkey solutions and acquire market share through full stack of products,
Buildzar is poised to create an indisputable dominance in a market that has
been barely tapped in the e-commerce domain.
While the company's current focus is on consolidating the
business in the Delhi NCR region, which alone is valued at $9-10 billion, in
the next 6 months it aims to expand their operations across southern markets
starting with Bangalore, Chennai and Hyderabad.
Goodd share
ReplyDelete