Brick2wall.com, an online marketplace for sourcing construction materials as well as construction related services, has raised $200,000 in an angel round from multiple investors.
The investors who participated in the round include Sundeep Sahni, Founder of Lazada; Mayank Mittal, VP at Germany-based bank, Simon Hill, Founder of Wazoku, and a few other HNIs.
The company says that the newly raised funding will be deployed for technology upgradation, increasing customer reach, and developing new business lines in Delhi NCR.
Commenting about the investment, Mayank Mittal said:
Brick2wall is disrupting an industry with massive opportunity for impact and creating value. Seasoned team background, sound growth trajectory, repeat purchase and promising unit economics, presented a sustainable business model.
Brick2wall, which was founded in July 2016 by brothers Nishant Garg and Shashank Garg, claims to be India’s largest marketplace that provides “live prices” of over 40,000 SKUs ranging from core building materials to finishing items, which it fulfills through its over 500 vendors in Delhi-NCR.
Since the official launch last year, the company claims to have served more than a thousand customers and have been growing in double digits month on month. It also claims to have a zero percent return rate and a 100 percent returning customer base.
The startup, which currently has presence through website only, will soon be launching a mobile application. The company believes that the market worth of its sector is $70-billion in India.