Funding Alert

Construction management platform Powerplay raises $7.14 mn in funding


Construction management startup, Powerplay, has raised $7.14 million in its latest round of funding that was led by Accel. Other investors who participated in the round include Sequoia’s Surge, India Quotient, and the founders of Snapdeal.

The company intends to utilse this additional funding to expand its core business.

This would be Powerplay’s second round of funding in the last 13 months. From its inception, the company has raised about $13 million.

“Having received a second round of funding from existing investors shows their belief in the team, product, and tech adoption in the market,”said Iesh Dixit, co-founder and CEO, of Powerplay.

He further added that one of the key contributers to the Indian economy is construction yet it uses archaic solutions.

In addition, Dixit said that by enabling smart management through the use of technology, the company is assisting the sector in minimizing its construction costs and time.

He also mentioned that their goal is to accelerate the development of the nation’s socioeconomic infrastructure.

From January to June this in 2022, the powerplay managed construction’s value is to the tune of ₹7,500 crore.

About Powerplay

Powerplay

Founded in 2019 by Iesh Dixit and Shubham Goyal, Powerplay is a free mobile app that connects multiple stakeholders involved in construction, enabling them to communicate and collaborate more efficiently. Through the platform, one can create comprehensive project plans, delegate tasks to engineers, contractors on-site, and managers in the office to get regular updates, and track issues leading to delays. 

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