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HomeInsightFunding Alert Onsite raises $1.5 million in funding led by Foundamental

[Funding alert] Onsite raises $1.5 million in funding led by Foundamental

Onsite, a platform for managing contractors, has secured $1.5 million (about Rs 11.7 crore) in a Series A fundraising round that was spearheaded by Foundamental.

Onsite, a platform for managing contractors, has secured $1.5 million (about Rs 11.7 crore) in a Series A fundraising round that was spearheaded by Foundamental.

Additionally, angel investments were made by Artha Ventures, Redbay Ventures, Madhumala Ventures, Rahul Garg (Moglix), Varun Alagh (Mamaearth), Abhishek Goyal (Tracxn), Tonmoy Shingal (Mettl), Manish Kumar (KredX), Ravi Garikapati (Davinta), Kunal (Glowroad), Ashish Sharma (Innoven), Pankaj Raina, Archit Rathi, Prashan Agarwal, Sandeep Saboo, Manvi Chandak.

The startup intends to use the additional capital to grow the technological team and enhance its cloud-based platform.

Read also – [Funding alert] PurpleTutor raises INR 10 cr in Series A funding

The Onsite app, founded in March 2021 by Akshansh Agarwal, Sumit Garg and Dheeraj Anand, is a cloud-based platform that says it can assist more than 100,000 contractors with team collaboration and financial management. Contractors use the product, which is accessible in seven languages.

“We saw an opportunity to revolutionise construction management in India, saving companies both time and money. Although there are tools available in Western markets (Briq, Procore, Assignar), Onsite is the first-of-its-kind in the APAC and we look forward to seeing the impact of this technology on the sector,” said Akshansh, Co-founder of Onsite.

Onsite aims to be the world’s largest platform for construction site management. Onsite mobile app helps construction companies and contractors to manage project resources and project spends at the click of a button.

“Small businesses are the real drivers of the construction industry. However, Construction businesses in India remain severely underserved by technology. Akshansh, Dheeraj and Sumit are user-centric founders with a clear founder-market fit. We are thrilled to lead Onsite’s seed round,” said Shubhankar Bhattacharya, General Partner of Foundamental.

Read also – Shiprocket Partners With Invest India To Build D2C Brand

About Onsite

Key features of the Onsite app currently include Task Management, Labor and Raw Material tracking, Site Expense tracking, Design viewing and Reporting. This will directly help the contractors and the construction companies improve labour efficiency, reduce pilferage at work sites, reduce work errors and a lot more – resulting in better profits, scalability and customer experience.

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