Indian eCommerce portal, Buildzar, owned by Glow Homes Technologies pvt. Ltd has raised $4 Million from Puneet Dalmia – Managing Director Dalmia Bharat Ltd.
Founded in October 2015, by Vineet Singh and Swapnil Tripathi, BuildZar provides its services in Delhi and across the national capital region. With over 350 vendors already listed, the startup offers a range of construction material such as steel, sand, kitchen and bathroom appliances, tiles and electrical items.
With the vendors spread across the target area, Buildzar takes the order online and then forwards to the vendor providing the best rate. The vendor takes care of the logistics and Buildzar gets a commision per transaction.
Talking to the media, Vineet Singh – CoFounder of Buildzar estimated the total home construction business to be over $150 Billion. According to him, constructing a house is one of the biggest priorities for a person in his lifetime.
The startup currently has 70 employees with a target of hiring 30 more by June 2016. Currently, Buildzar receives around 800 orders per month with the average transaction value of Rs 67000. The current focus is pretty much on the NCR region with plans to expand to cities like Bangalore, Hyderabad and Pune in around 6 months time.
With the investment raised, Buildzar plans to expand the team in the coming months. Along with that, the funds will also be used in revamping the product and marketing activities.