YOUKRAFT secured $10 million in its seed round from the Goel Family Office
- ByStartupStory | April 12, 2022
Youkraft Solutions Pvt Ltd, which runs the e-commerce portal YOUKRAFT, announced on Monday that it had received $10 million (about Rs 76 crore) in seed capital from the Goel family office, which includes Manav Goel (Founder and Chief Executive Officer of YOUKRAFT). YOUKRAFT, based in Bengaluru, intends to use the new cash to expand its product and service offerings.
YOUKRAFT was founded in 2021 by Manav Goel to help contractors handle on-the-ground difficulties and to modernize the interiors industry with technology to make transactions easier. Their newly launched software will be a dedicated online platform for the building and interior design industries. Bengaluru would be the first city to get the YOUKRAFT app.
YOUKRAFT was designed in 2021 as a solution to the interiors and construction industry’s fundamental logistical and transparency challenges. It was created as a unified platform to link homeowners, contractors, designers, architects, technicians, and other industry stakeholders. In just four months, the system was invented and developed in-house, and it uses an advanced AI/ML algorithm to match clients with the most appropriate product choices. The portal also included approximately 20k+ SKUs offered by 100+ prominent businesses across key verticals in the same four months.
According to the startup, Goel is now moving from his post as Managing Director of WOODKRAFT, where he drove the company’s expansion to become one of the leading corporate interiors fit-out firms. To determine the most cost-effective and efficient shipping option, the platform uses distance, shipping cost, and logistical reliability as important variables.
The platform is currently looking to increase its staff and technology skills in order to grow its footprint across other locations.
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