Total amount raised
$10.6 Millions
Latest funding date
01/01/2023
Location
Brick&Bolt has successfully raised $2.25 million in a Series A round of funding from Fundamental Capital, following a $1.5 million Pre-Series A round led by Sequoia India’s Surge program. The company offers end-to-end home construction services, ensuring transparency, quality, and timely delivery through a tech-enabled platform.
Keep reading to explore the intricacies of Brick&Bolt's fundraising journey and the investors backing this innovative platform.
What Is Brick&Bolt?
Brick&Bolt, founded on October 1, 2017, is a tech-enabled home construction company based in Bengaluru, Karnataka, India. The company operates under the legal name Pluckwalk Technologies Pvt. Ltd. and was founded by Arpit Rajpurohit and Jayesh Rajpurohit.
Specializing in building materials, e-commerce, marketplace, and real estate, Brick&Bolt employs between 251-500 people. The company is known for its commitment to transparency, quality, and timely delivery, offering end-to-end construction services with a focus on trust and customer satisfaction.
How Much Funding Has Brick&Bolt Raised?
- Pre-Seed Round
- Amount Raised: $500K
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to launch the platform and develop the technology stack.
- Seed Round
- Amount Raised: $1.5M
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Seed Round
- Amount Raised: $1.5M
- Date: February 2020
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Series A
- Amount Raised: ₹165M (approximately $2.25M)
- Date: August 2020
- Lead Investors: Foundamental
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and increase market penetration.
- Series A
- Amount Raised: ₹400M (approximately $10M)
- Date: January 2023
- Lead Investors: Accel, Celesta Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to 12 cities, enhance technology, and strengthen the leadership team.
Total Amount Raised: $16M
Current Valuation: Not publicly disclosed
Key Investors
- Accel
- Details: Accel is a global venture capital firm known for investing in early-stage and growth-stage companies. They have a strong presence in the technology sector.
- Investment Focus Areas: Technology startups, consumer, enterprise, healthcare
- Notable Investments: Facebook, Dropbox, Flipkart
- Celesta Capital
- Details: Celesta Capital is a venture capital firm with extensive experience in investing in companies that disrupt the construction industry. They focus on high-impact technology investments.
- Investment Focus Areas: Construction technology, high-impact technology
- Notable Investments: Not publicly disclosed
- Foundamental
- Details: Foundamental is a venture capital firm focused on construction technology. They aim to support startups that innovate in the construction sector.
- Investment Focus Areas: Construction technology
- Notable Investments: Not publicly disclosed
- Surge
- Details: Surge is a rapid scale-up program by Sequoia Capital for early-stage startups. They provide support and resources to help startups grow quickly.
- Investment Focus Areas: Early-stage startups, various sectors
- Notable Investments: Not publicly disclosed
- HDFC Capital Advisors
- Details: HDFC Capital Advisors is a subsidiary of HDFC Ltd, focusing on real estate investments. They provide financial support for housing and real estate projects.
- Investment Focus Areas: Real estate, housing finance
- Notable Investments: Not publicly disclosed
What's Next for Brick&Bolt?
Brick&Bolt is poised for significant growth as it plans to expand to 12 new cities within the next 15 months. This expansion is driven by the immense potential of the Indian real estate market, projected to be worth $650 billion by 2025 and $1 trillion by 2030. By enhancing their technology stack and strengthening their leadership team, Brick&Bolt aims to capture a substantial share of the unorganized construction market in India.
Future fundraising opportunities seem likely, given the company's ambitious growth plans and the favorable market conditions. As Brick&Bolt scales its operations, additional funding rounds may be necessary to support continued expansion and technological advancements. However, the company will need to navigate challenges such as managing rapid expansion, competing with established players, and ensuring the scalability of their technology stack.
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