Pluckwalk Technologies Pvt Ltd, which operates construction services platform Brick & Bolt, has raised funding from Germany-based Foundamental GmbH, according to a report.
Bengaluru-based Brick & Bolt has raised nearly Rs 16.5 crore ($2.25 million) from the venture capital firm, Entrackr reported, citing regulatory filings.
Per the report, the startup’s parent has issued 1,164 Series A preference shares to Foundamental at a little over Rs 1.41 lakh per share.
The Germany-based VC firm is focussed on making investments in segments such as AEC (architecture, engineering, and construction), mining, and technology.
Per its website, it seeks to tap the opportunity presented by fragmentation caused by traditional operations in these segments by customising global patterns for local situations.
Its bet on Brick & Bolt comes after the startup raised $1.5 million (around Rs 10.7 crore) in February. The round was led by Surge, the accelerator programme of global venture capital firm Sequoia.
Others that participated in that round included Livspace founders Anuj Srivastava and Ramakant Sharma, Trifecta Capital partner Aakash Goel, Indiqube co-founder Meghna Agarwal, and Piramal Fund Management’s Navin Dhanuka.
At the time, Brick & Bolt co-founder Jayesh Rajpurohit said the firm would use that capital to enhance its technological infrastructure, grow its team and expand to Tier-I and Tier-II locations across India.
VCCircle has reached out to Brick & Bolt on the details of this fundraise and will update this report accordingly.
The company was set up in 2018 by Jayesh Rajpurohit and his brother, Arpit. While Jayesh has worked with companies including Ariba and Bwin, Arpit has been associated with firms including Amazon and Ola.
Brick & Bolt provides end-to-end services including home construction, construction for businesses, and building materials. It also connects architects and contractors with people building or looking to build their homes.
Brick & Bolt was also part of Surge’s second cohort, which includes other well-funded startups including agri-tech firm Bijak, the coaching centre-focussed Classplus, video production and editing platform InVideo, and customer experience-based software-as-a-service startup Seekify.
