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.
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"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.
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