Wehouse, an India-based tech-powered construction aggregator platform, has raised $1m in its first funding round to expand across India.
It has raised the funds from Anthill Ventures and a group of angel investors, reported The Economic Times.
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Hyderabad-based Wehouse recently rebranded itself from Hocomoco.
Wehouse intends to use the proceeds from the funding round for the advancement of its technology platform and in hiring employees for its expansion across metro cities.
Established in 2017, the firm provides end-to-end construction services.
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The company makes the construction process simpler by bringing together all aspects required in construction of a house under one roof.
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By GlobalDataIt also offers end-to-end services such as legal approval process, architectural structural design and construction execution, interior services and monitoring services.
Wehouse co-founder and CEO Sripad Nandiraj was quoted by Vie Stories as saying: “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.”
At present, more than 2,000 workers are indirectly working on different projects across Wehouse’s projects.
The firm concentrates on low-rise construction projects, and with an upsurge in demand for plotted development, the company expects to further its growth.
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Image: The company makes the construction process simpler by bringing together all aspects required in construction of a house under one roof. Credit: chien than from Pixabay.
