Bandhoo raises INR 7.35 crore in a Pre-series A round led by Venture Catalysts

National, 29th February, 2024:Venture Catalysts, India’s first integrated incubator and largest early-stage investment firm, today announced that it has led the Pre-Series A funding round for Bandhoo, joined by other marquee investors in injecting INR 7.35 Crore into the pioneering construction technology and services company. This strategic investment signifies Venture Catalysts’ relentless commitment to fostering innovation and driving transformation in India’s construction sector.

Servicing India’s construction market, which is valued at a substantial $300 billion, Bandhoo is at the forefront of revolutionising the construction ecosystem, seamlessly integrating Developers, PMCs, contractors, revolutionizing, labour contractors, material suppliers, labour suppliers, and workers into its comprehensive platform. Leveraging cutting-edge SaaS solutions and managed marketplaces, Bandhoo empowers stakeholders across Real Estate, infrastructure, and construction domains, ensuring efficient project management and uninterrupted operations.

“Bandhoo’s mission to streamline construction processes aligns perfectly with our vision of fostering disruptive technological solutions in India,” said Dr. Apoorva Ranjan Sharma, Director & MD of Venture Catalysts. “Their innovative approach and comprehensive offerings address critical pain points in the construction industry, propelling efficiency, and driving growth. We are excited to partner with Bandhoo on their journey to redefine India’s construction landscape and look forward to catalysing their expansion into new horizons.”

The Pre-Series A funding round saw participation from Bandhoo’s visionary founders, Prashant Gupta and Sridhar Sundaram, alongside esteemed angel investors including Neeraj Aggarwal (BCG), Manish Gupta (Indegene), S Sriniwasan (Kotak), Amit Khera (McKinsey), and Abhishek Kumar. This collaborative effort underscores the confidence and support of industry veterans in Bandhoo’s transformative potential.

Prashant Gupta, Co-Founder of Bandhoo, expressed enthusiasm while reflecting on future plans, stating, “We have built two very compelling solutions, which are getting rapidly adopted by large enterprises and SMEs in Real Estate and construction. We already have 20 developers, 10,000 material suppliers, 1 lakh contractors, and more than 2.5 lakh construction workers using Bandhoo. This funding will help us continue our growth by enabling fresh capital to further invest in our tech product development, as well as GTM.” Sridhar Sundaram, Co-Founder of Bandhoo, further added, “Technology is a powerful lever for connecting India’s large construction market. With this fund-raise, we will finish building the digital infrastructure for Indian construction stakeholders.”

Bandhoo’s successful Pre-Series A funding round follows its earlier Seed round in June 2021, where the company raised USD 1.5mn from Unitus, InfoEdge Ventures, and Bharat Innovation Fund, validating its disruptive potential and market traction.