Construction management

Construction management startup Powerplay raises $7.14M in funding

Powerplay, a construction management startup, raised $7.14 million in a Series A round led by Accel and attended by Sequoia Surge, India Quotient and the founders of Snapdeal.

The company will use the funds to expand its business in India and overseas. Powerplay said the value of construction managed on its platform from January to June 2022 was worth Rs 7,500 crore.

Since its inception in 2020, Powerplay has raised approximately $13 million in total. India Quotient was the first institutional investor to take a high-conviction contrarian bet on the startup.

“With domestic and international expansion on our radar, we are focused on creating self-service software and creating intuitive product flows. It would reduce human intervention and help us scale faster,” said Shubham Goyal, co-founder and CTO of Powerplay.

“Our previous funding helped us scale the size of our team, and we have almost doubled since then. With the current funding, we aim to deepen our roots by growing our core business and expand our branches by developing a easy-to-use form of construction management for construction companies around the world,” said Iesh Dixit, co-founder and CEO of Powerplay.

Powerplay is based in Bengaluru and it declutters daily tasks on construction sites by providing a platform to track real-time data and manage tasks, labor and materials.

Source link