New Delhi-based construction tech startup OnSite has raised $1.5 million in a seed funding round led by Artha Venture Fund, Foundamental, and Madhumala Ventures, among others.
OnSite said it empowers small and mid-size construction businesses across 200 cities by standardizing the otherwise unorganized construction ecosystem. The startup plans to use the raised capital to accelerate its product development and expand its market presence.
Founded by Dheeraj Anand, Akshansh Agarwal, and Sumit Garg, Onsite’s one-stop business solution helps mid-sized construction businesses to manage their business and connect site and office teams. The startup takes a contractor-first view of construction, automating regular tasks to ensure that project operations and finances are in sync.
It leverages technology powered by data analytics capabilities, driving the business towards better cash flow management and higher profits for contractors.
Akshansh Agarwal, Co-Founder & CEO – Onsite, said, “Onsite addresses the real challenges of the construction industry by empowering the mid-sized construction businesses that are the backbone of the industry. Our multi-lingual interface has enabled over 1 lakh businesses to streamline their operations through technology, easily and effortlessly.”
Sipika Nigam, Principal – Artha Venture Fund, said, “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 per cent 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.”
Source @Indianstartupnews
