Monday, September 26, 2022
HomeInsightFunding Alert Tech-enabled construction Platform Wehouse raises $ 1 mn in pre-Series A...

[Funding alert] Tech-enabled construction Platform Wehouse raises $ 1 mn in pre-Series A round

[Funding alert] Tech-enabled construction Platform Wehouse raises $ 1 mn in pre-Series A round
Tech-enabled construction Platform Wehouse

Wehouse (Hocomoco), a tech-powered construction aggregator platform has raised $ 1 million in its Pre series A funding round from Anthill Ventures and a group of angel investors. It has recently rebranded itself to Wehouse.

The startup plans to use the funds to upgrade the technology platform and hire them for key roles in its expansion into cities across India.

Hyderabad-based Wehouse (Hocomoco) was founded in 2017 by Sripad Nandiraj, It is a tech aggregator platform that facilitates end-to-end construction services, helping customers build their dream home.

The company simplifies the construction process by bringing together all the entities involved in building a house under one roof. The startup also provides end-to-end services ranging from legal permitting, architectural structural design and construction execution to interior and monitoring services.

“Reinventing is an important part of keeping a corporate entity relevant and aligned with its entrenched entrepreneurial ethos. Our new name embodies our industrial and individual worldview. It means we, as a company and our clients, are building their dream home together as a family. Our recent funding is an indication that we are moving in the right direction, and it gives us immense pleasure that investors are showing faith in our brand and traction thus far. The funding will be used to bolster our tech and prime us for scalability. Currently, more than 2000 workers are indirectly employed on different projects across Wehouse’s projects. We want to keep increasing this number and give these workers more jobs as we grow”, said, SripadNandiraj, Co-Founder and CEO, Wehouse.

Hokomoko also offers e-monitoring, which enables customers to check work progress and on-site content consumption through work photos and videos and information. Thus, providing a monitoring-safe project site to prevent theft and damage throughout the project.

“We are thrilled to invest in Wehouse. As a company, they are redefining how technology is being applied to construction and home-building, and we are excited by their vision and innovation in this space. We firmly believe that a startup like Wehouse with its technology-first approach and deep domain expertise has a large opportunity to organize this fragmented market. This is just the beginning of our bold bet in this space, as we look forward to the launch of the first cohort of Gruhas ASPIRE, a scaling program for early-stage proptech companies in India”, said, SaileshSigatapu, Partner at Anthill Ventures.

This new funding comes on the heels of a major commercial milestone of the company completing a built-up area of 1 million sqft and is expected to touch Rs 100 crore of booked revenue in the next few months.

About Wehouse (Hocomoco)

Wehouse (formerly known as Hocomoco) is India’s No. 1 tech-powered construction company that is transforming how people build their dream homes. They simplify the construction process by bringing all entities under one roof and making this a one-stop solution for all your home-building needs. 2,000+ Workforce | 25+ yrs Experience | 1 Million+ Sq Ft Built-up Area | 200+ Projects | 50,000+ Community.

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