Powerplay, a startup in construction management, announced on Thursday that it has raised $7.14 million (or roughly Rs 56 crore) from investors to expand its operations.
Accel led the most recent fundraising round.
“The platform raised $7.14 million via the latest series-A round led by Accel and participated by Sequoia Surge, India Quotient, and the founders of Snapdeal,” the statement said.
The startup will use the money from its second round in the past 13 months to expand its primary business.
Between January and June 2022, Powerplay oversaw construction projects worth a total of Rs 7,500 crore.
Powerplay has raised around $13 million since its launch in 2020.
Co-founder and CEO of Powerplay, Iesh Dixit, said:
“Having received a second round of funding from existing investors shows their belief in the team, product, and tech adoption in the market”.
“We are helping the sector to reduce its construction costs and time by enabling smart management via the use of technology. We are on a larger mission of accelerating the growth of socio-economic infrastructure in the country,” Dixit said.
Powerplay, a Bengaluru-based company founded by Dixit and Shubham Goyal, is an end-to-end construction management SaaS platform that supports the simplification of communication and enhancing teamwork between construction sites and central offices. On Powerplay, site work, materials, and labour are managed by specialty contractors, general contractors, and builders.