27 January, 2016, Gurgaon: In its recent round of funding, Gurgaon based construction material provider portal, Buildzar has raised US $4 mn funding from Puneet Dalmia, MD, Dalmia Bharat Ltd. The company was jointly founded by Vineet Singh, Vivek Sinha and Swapnil Tripathi in 2015.
Speaking on the raised capital, Vineet Singh said, “The funding will be used for team expansion, product enhancement and marketing activities.” The company provides construction raw materials such as steel, cement, sand, bathroom fittings etc. to its consumers through its portal. It currently showcases more than 1000 plus brands and over one lakh products. Currently it conducts is operations from Gurgaon and covers the entire Delhi NCR region. With the raised amount, it is looking forward to expand its reach to other cities such as Bangalore, Chennai and Hyderabad in the coming six months.
Buildzar has made the entire ordering and delivering process very simple and consumer friendly. First the Company takes order from the customer and then alert the vendor for logistics. Once the vendor delivers the order, company charges a commission from the vendor. According to the company’s official, it receives 750-800 order per month with an average ticket size of Rs 67000 per order.
With the satisfied clientèle including ACC Ltd, Ultratech Cement Ltd, Arcelor Mittal, JK Lakshmi Cement Ltd, Havells India Ltd, Asian Paints Ltd and Jaquar Sanitary Ware India Pvt. Ltd., company is looking very positive about its future endeavours.
