Monday, April 15, 2024
Outlook.com
Outlook India
Outlook Business

Proptech Start-Up Onsite Raises $1.5 Million

Investors who participated in the seed funding round included Artha Venture Fund, Foundamental, and Madhumala Ventures

Proptech Start-Up Onsite Raises $1.5 Million
The Onsite App helps construction businesses reduce the risk of delays and cost overruns with improved accountability and a boost in overall productivity
POSTED ON December 09, 2022 12:47 PM

Onsite, which runs a tech platform for contractors to monitor their construction projects, has raised $1.5 million (about Rs 12.36 crore) in a seed funding round to expand its business.

The company in a statement said that Artha Venture Fund, Fundamental and Madhumala Ventures were some of the investors who were part of the funding round.

The Delhi-based start-up will use the funds to accelerate its product development and expand its market footprint.

The company empowers small and mid-size construction businesses across 200 cities by standardising an otherwise unorganised construction ecosystem.

Akshansh Agarwal, co-founder and CEO of Onsite said that the company addresses the real challenges of the construction industry by empowering mid-sized construction businesses.

"Our multi-lingual interface has enabled over 1 lakh businesses to streamline their operations through technology, easily and effortlessly," it said.

The Onsite app helps construction businesses reduce the risk of delays and cost overruns with improved accountability and a boost in overall productivity.

According to Housing.com, private equity (PE) investment in proptech firms rose 5 per cent to  $270 million during the January-June this year. Between January 2009 and June 2022, the proptech companies in India received a total of  $3.42 billion in PE funding.

  • Related Articles

    The company claimed in a statement that RenderMax will provide a competitive advantage to its customers

    CleverTap Unveils RenderMax: Proprietary Technology to Boost Push Notification

    The development came weeks after Swiggy’s competitor, Zomato, announced plants cut down the employee number by 3 per cent to combat the economic downturn

    Swiggy To Lay Off 250 Employees: Report

    The development came months after the company sacked Grover and his wife over the alleged misproportion of funds

    BharatPe Files Case Against Ashneer Grover’s Wife: Report