Kochi, India-based tech-enabled home building solutions BuildNext raised USD 3.5 million in pre-Series A funding. The round took place on July 7, 2022. Madhumala Ventures, a wholly-owned subsidiary of Pidilite Industries, led the financing for BuildNext. Existing investors such as Konglo Ventures, Vineet Kumar, Chief Executive Officer of Native, and Deep Gupta, founder of FatEngine, among others, participated in the round.
Purpose of Funding by BuildNext
With the recent capital infusion, BuildNext seeks to expand its research and development (R&D) capabilities. The firm will also upgrade its virtual reality technology experience centres.
Besides consolidating its position in existing markets, the company will expand in new markets, including Bengaluru, Chennai and Coimbatore.
What the founders have to say
“We are excited to have Pidilite as one of our key investors. Our aim is to use our custom technology platform to drive transparency and overcome inefficiencies in the entire process of constructing and designing a house. We have made significant progress in research about designing and building better homes. We have developed objective parameters to decide how good a home design is, and these are put to the test, again and again, every day for continuous improvement.With decades of leadership in the space, Pidilite’s guidance on this journey will be a huge asset for us and will enable us to move ahead with confidence,” said Gopi Krishnan, Co-founder and CEO, BuildNext.
“Pidilite’s faith in us is a strong reinforcement of our vision and plans. These funds will help us establish a strong presence in South India and help us achieve our goal of adding over 1000 homes to our current portfolio,” said Finaz Naha, co-founder and chief operating officer, BuildNext.
What the investor has to say
Apurva Parekh, Executive Director, Pidilite Industries, said, “We are happy to back BuildNext and be a part of their growth story. BuildNext’s vision to use technology to improve customer experience has the potential to transform the home construction market.”
About BuildNext
In 2015 Gopikrishnan V and Finaz Naha co-founded BuildNext. The founders are IIM Bangalore alumni. Since November 2019, the company has been offering branded home-building solutions to customers in Kerala and Hyderabad. It provides services from design to handover, including complete customization, VR walkthroughs, and ergonomic and aesthetic procedures for day-to-day activities. The target market for the company is 1-5 floor single or multi-family residential projects starting at 1500 sq ft in area per home.
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