Total amount raised
$3.5 Millions
Latest funding date
07/01/2022
Location
BuildNext has successfully raised funding through at least one Seed round, with notable investors including Callapina Capital and Vineet Kumar. The company leverages technology and data to design and build homes, aiming to become the largest retail home builder brand in India.
Keep reading to explore the intricacies of BuildNext's fundraising journey and the investors backing this innovative platform.
What Is BuildNext?
BuildNext, founded on October 16, 2015, is a tech-enabled branded home builder based in Kochi, Kerala, India. The company was established by Finaz Naha and Gopikrishnan Vadakkevededu.
Operating in the home building and construction industry, BuildNext employs between 51 and 100 people. The company leverages advanced technologies like Virtual Reality and Building Performance Indices to design and build homes that are functional, energy-efficient, and customized to client needs.
With a vision to become the largest retail home builder brand in India, BuildNext aims to deliver over 20,000 units per year across various locations within the next decade. They offer a range of services, including turnkey house construction, experience centers, project tracking tools, and eCommerce for building materials.
How Much Funding Has BuildNext Raised?
- Pre-Seed Round
- Amount Raised: $30K
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
- Seed Round
- Amount Raised: $3.5M
- Date: July 2022
- Lead Investors: Pidilite Industries Limited
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand R&D capabilities, upgrade VR technology experience centers, and expand into new markets.
Total Amount Raised: $3.53M. Current Valuation: Not publicly disclosed.
Key Investors
- Pidilite Industries
- Details: Pidilite Industries is a well-known Indian company specializing in adhesives, sealants, and construction chemicals. It is renowned for its flagship product, Fevicol.
- Investment Focus Areas: Construction chemicals, adhesives and sealants, home improvement solutions.
- Notable Investments: Fevicol, various investments in construction and home improvement technologies.
- Konglo Ventures
- Details: Konglo Ventures is an investment firm that focuses on early-stage startups and innovative companies. The firm is known for supporting tech-enabled and innovative startups.
- Investment Focus Areas: Technology-driven companies, construction and real estate technology, home improvement sectors.
- Notable Investments: Not specified.
- FatEngine
- Details: FatEngine is an investment entity that supports startups and companies with high growth potential. The firm focuses on technology and innovation.
- Investment Focus Areas: Technology, innovation, high growth potential startups, unique industry solutions.
- Notable Investments: Not specified.
- Vineet Kumar
- Details: Vineet Kumar is an individual investor associated with Native. He has participated in funding rounds for tech-enabled startups.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
- Deep Gupta
- Details: Deep Gupta is an individual investor associated with FatEngine. He has a focus on supporting high growth potential startups.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for BuildNext?
BuildNext is poised to capitalize on significant opportunities in the Indian real estate market, particularly through its expansion into major cities like Bengaluru, Chennai, and Coimbatore. The company plans to enhance its Virtual Reality technology experience centers and bolster its R&D capabilities, aiming to offer more efficient and transparent home construction solutions.
With the Indian real estate market projected to grow to $1 trillion by 2030, BuildNext is well-positioned for future fundraising opportunities. The company is likely to attract further investments as it continues to innovate and expand its market presence. However, BuildNext will need to navigate challenges such as competition from established players and the complexities of scaling operations in new markets.
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