Brick&Bolt plans to double its geographic reach by expanding to 12 cities in the next 15 months
Bengaluru-based online construction marketplace Brick&Bolt has raised $10 million led by Accel and Celesta Capital.
The company plans to use the funding to enhance its tech stack, strengthen its leadership team and expand its geographical reach to more than 12 cities in the next 15 months.
Cilix Capital, an international investment-banking firm, has advised the Series A2 round.
Established in 2018, Brick&Bolt is an e-commerce platform providing end-to-end services, including home construction, construction for businesses, and building materials. It provides consumers with technological methods and processes that make home and commercial constructions simple, hassle-free, and dependable.
“Our technology with workflow automation, BIM modelling and a suite of more than 16 tech applications uniquely position us to scale at a rapid pace with predictable delivery. We are also in line to supply building materials for captive projects and contracts,” said Jayesh Rajpurohit, co-founder, Brick&Bolt in a media statement.
“India is set to be the third largest construction market in the world by 2025. The Indian standalone homes market is ripe for tech-led disruption. With favourable market conditions and macro environment, Brick& Bolt is positioned to leverage this opportunity,” added Mahendran Balachandran, Partner at Accel.
With this investment round, Brick&Bolt has raised a total of $16 million. Earlier, the company raised approximately $6 million from Sequoia Surge, Foundamental GmBH, HDFC Capital Advisors and Stride Ventures.