Brick&Blot’s parent company PluckWalk Technologies Pvt LTd has raised $1.5 Mn in a Pre-series A round. Sequoia’s scale up program, Surge, spearheaded the funding round.
Clutch of individual investors like Livspac’s founders Anuj Srivastava & Ramakant Sharma and Aakash Goel of Trifecta also contributed to the round.
Brick&Blot, which is headquartered in the IT city of Bengaluru, will utilize the funds to improve its core technology platform, scale up its team and ramp up its presence across tier 1 and tier 2 cities across the country.
Brick&Blot is essentially a platform where real estate constructors and architects can directly connect with customers. The platform promises complete transparency in pricing and imposes penalties on service providers in case of undue delays.
The platform leverages the power of AI to correctly predict work schedules and supervise the quality and progress of ongoing projects.
Jayesh Rajpurohit, co-founder Brick&Blot, said that India’s construction industry is slated to reach whopping $640 Bn by 2022 and the country will be home to nearly 17 out of 33 fastest growing cities in the world by 2033.
He further added that their company aims to capture this enormously massive market by making the construction industry organized and accessible as well as encourage transparency for residential as well as commercial real estate projects.
Brick&Blot’s current service offerings are overwhelmingly restricted to Bengaluru but is soon likely to begin the expansion following the latest funding round.
India’s real estate industry is currently facing enormous challenges due to ongoing economic slowdown. Most industry experts are hoping that the current slowdown is cyclic and will get over soon, paving the way for the recovery of the real estate sector.