Construction management startup Tracecost has raised $2.5 million in funding from OfBusiness, a building material-focused B2B ecommerce platform.
The investment will boost digital adoption in manufacturing-focused enterprises in India, North America and the Middle East, according to a news release from OffBusiness.
Construction software platform TraceCost was founded in 2018 by Madhvi Walia, Prabh Paul and Sunny Vohra, It provides real-time construction management software for managing the resources and finances of construction projects.
Its platform allows builders to remotely evaluate site activities, estimate appropriate inventory levels, and optimize delivery timelines.
The Gurugram-based OfBusiness was founded in 2015 by Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra, Nitin Jain, and Asish Mohapatra, It provides raw material procurement and credit facilities to small and medium-scale enterprises (SMEs) in the manufacturing and infrastructure sectors.
The company boasts of over 5,000 consumers and 2,000 suppliers on the platform and offers collateral-free loans up to Rs 2 crore.
With operating revenue of Rs 1,748 crore, the company doubled in size in FY 2021. And its profit grew 73 per cent to Rs 55 crore in the financial year ended March 2021.
In December 2021, OfBusiness had last raised $325 million in its Series G funding round from Alpha Wave Ventures II, Tiger Global Management and Softbank Vision Fund 2 at a valuation of around $5 billion.
​Deliver consistency, transparency, and efficiency. Tracecost empowers teams to establish and maintain standard processes and procedures, make informed decisions, and improve outcome predictability. Successfully deliver projects every time.
Tracecost is a leading provider of cutting-edge technologies and services, offering scalable solutions for businesses of all sizes. Founded by a group of successful professionals who started by scribbling their ideas on a piece of paper, today they offer smart, innovative services to dozens of clients worldwide.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
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