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Construction management start-up Powerplay raises $7.14 mn in funding

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

Topics
fund raising | Startup | construction firms

BS Reporter  |  Mumbai 



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Powerplay, a construction management start-up, has raised $7.14 million funding in A Series-A round that was led by Accel and had participation from Sequoia Surge, India Quotient, and the founders of Snapdeal.

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

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

"With national and international expansion being on our radar, we are working toward making self-serve software and building intuitive product flows. This would reduce human intervention and help us scale faster," said Shubham Goyal, co-founder and CTO of Powerplay.

“Our previous funding helped us scale our team size, and we almost doubled since then. Through the current funding, we aim to deepen our roots by nurturing our core business and widen our branches by developing an easy-to-use construction management platform for construction businesses around the world,” said Iesh Dixit, co-founder and CEO of Powerplay.

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


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First Published: Thu, September 08 2022. 15:22 IST

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