Startup for construction management, Powerplay, has received $7.14 million during its most recent round of capital that was managed by Accel. Other investors who took part in the round were Sequoia’s Surge, India Quotient, as well as the founders of Snapdeal.
The company plans to use this extra capital to expand its primary business.
This is Powerplay’s second round of capital over the past 13 months. Since its start Powerplay has raised around $13 million.
“Having received an additional round of funding from investors who have already invested confirms their confidence that they have faith in their team the product and the technology’s acceptance within market. market,”said Iesh Dixit, co-founder and CEO of Powerplay.
He also said an additional major factors that contributes in an Indian economy is construction , yet it is based on archaic methods.
Additionally, Dixit said that by making smart management possible through the application of technology it is helping the industry in reducing the construction cost and time.
He also stated that the goal of the organization is to speed up the growth of the infrastructure of the nation’s socioeconomics.
From January to June in 2022, the powerplay controlled construction’s value will reach the tune of Rs7500 crore.
The company was founded in 2019 with the help of Iesh Dixit and Shubham Goyal. The Powerplay application was launched in 2019 by Shubham Goyal and Ies cost-free mobile application that connects the various stakeholders in the construction process which allows them to collaborate and communicate more effectively. With Powerplay, one can design comprehensive project plans and delegate tasks to contractors, engineers as well as managers in the office for regular updates, and monitor the causes of delays.