Construction tech startup Onsite has announced that it raised $1.5 million in the seed funding round which saw participation from Artha Venture Fund, Foundamental, and Madhumala Ventures, among others. According to the company, the Delhi-based startup empowers small and mid-size construction businesses across 200 cities by standardising the otherwise unorganised construction ecosystem.
Onsite addresses the real challenges of the construction industry by empowering the mid-sized construction businesses that are the backbone of the industry, Akshansh Agarwal, co-founder and CEO, Onsite, said. “Our multi-lingual interface has enabled over one lakh businesses to streamline their operations through technology,” he further added.
The Delhi-based startup empowers small and mid-size construction businesses across 200 cities by standardizing an otherwise unorganized construction ecosystem. This move marks Artha Venture Fund’s 22nd investment from its INR 225 crore micro-VC fund, claimed by the company in a statement.
“Akshansh, Dheeraj, and Sumit make a strong founding team with proven experience in construction and technology. Their ability to counter complex challenges with simple yet effective solutions is noteworthy. Considering that over 66 percent of construction companies in India are leaning towards digital transformation, we are confident that Onsite will play an integral role in benchmarking the Indian construction ecosystem with its international counterparts,” said Sipika Nigam, principal, Artha Venture Fund.
Onsite leverages a mobile-first platform for contractors to monitor their construction projects, helping them with faster, better decision-making and smarter resource deployment.
For the company, the small and medium contractors that dominate the industry still rely on manual record-keeping to track the progress. For this, Onsite claims that its digital solution tackles such challenges and brings diverse stakeholders onto one platform. It further asserts that the technology is powered with data analytics capabilities, driving the business towards better cash flow management and higher profits for contractors.
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