BuildNext Raises $3.5 Mn Led By Pidilite To Expand Its Virtual Reality Experience Centres Across India
- ByStartupStory | July 7, 2022
BuildNext, a startup in the proptech sector, has acquired $3.5 million in equity funding as part of its Pre-Series A funding round, which was led by Madhumala Ventures, a division of Pidilite Industries. Existing investors Konglo Ventures, Vineet Kumar from Native, and Deep Gupta from FatEngine participated in the round.
The funds will be used by BuildNext to update its virtual reality tech experience centres and expand its R&D capabilities. Additionally, it will use the capital to reinforce its position in current markets while geographically expanding to newer ones like Bengaluru, Chennai, and Coimbatore.
The Kochi-based firm, founded in 2015 by Gopikrishnan V and Finaz Naha, two IIM Bangalore alums, provides customers with tech-enabled home construction and interior design services. It has a network of experienced centres across Kerala and Telangana that utilise virtual reality. By removing inefficiencies from the process, these experience centres let clients choose the type of construction the startup will going to do.
Gopi Krishnan, co-founder and CEO of BuildNext, commented on the investment, saying, “Our goal is to use our proprietary technology platform to create transparency and eliminate inefficiencies in the process of building and designing a house. In order to determine how well a home design is done, we have created objective criteria, which are always being improved upon.
Real-time construction material prices are linked to virtual reality using a patent held by BuildNext, which enables clients to make smart decisions. Additionally, it has created a mobile project management software that enables users to monitor building progress from any location. The app provides a daily summary of the site’s construction operations.
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