facebook-page-view
Advertisement

Contractor management firm Onsite closes seed round

By Shubhobrota Dev Roy

  • 08 Dec 2022
Contractor management firm Onsite closes seed round

Contractor management platform Onsite on Thursday said it has marked the final close of seed round at $1.5 million (around Rs 12 crore). 

The latest fundraise saw participation from Artha Venture Fund, Foundamental, and Madhumala Ventures, among others.  

The New Delhi-based firm will deploy the fresh proceeds to boost its product portfolio and expanding marketing operations. 

Advertisement

Founded in March 2021 by Akshansh Agarwal, Sumit Garg and Dheeraj Anand, Onsite aims to digitise India’s construction market and solve pain points such as continued industry fragmentation, lack of transparency and high operational inefficiencies.  

The startup claims that more than one lakh contractors are using its mobile app which is seven different languages. Contractors working across interiors, building construction, public works departments, railways and road projects use its apps, the company said in a statement.  

“Onsite addresses the 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 one lakh businesses to streamline their operations through technology, easily and effortlessly,” Agarwal said. 

Advertisement

“Considering that over 66% 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,” said Sipika Nigam, principal at Artha Venture Fund. 

Artha Venture Fund (AVF) is India’s first early-stage micro-VC firm with a corpus of $33 million. Its portfolio includes Agnikul, LenDenClub, HobSpace, Daalchini, KarmaLife, Everest Fleet and others. 

In October, VCCircle had reported that Mumbai-based Artha Group, the umbrella entity of AVF, announced the launch of Rs 450 crore micro venture capital fund.

Advertisement

Share article on

Advertisement
Advertisement