Foundamental leads Series A round in contractor management firm Onsite
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Foundamental leads Series A round in contractor management firm Onsite

By Aman Rawat

  • 31 Aug 2022
Foundamental leads Series A round in contractor management firm Onsite
Credit: 123RF.com

Contractor management platform Onsite has raised $1.5 million (around Rs 11.7 crore) in a Series A funding round led by Foundamental. 

The round also saw participation from investors including Artha Ventures, Redbay Ventures and Madhumala Ventures, among others.

The startup plans to use the fresh  funds to develop its cloud-based platform and expand the technology team.

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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. 

“ We saw an opportunity to revolutionise construction management in India, saving companies both time and money. Although there are tools available in Western markets, Onsite is the first-of-its-kind in the APAC and we look forward to seeing the impact of this technology on the sector,” said Agarwal, co-founder of Onsite. 

The startup claims that more than 1 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 release. 

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The startup claims that the Onsite App’s easy user interface doesn’t require any specific staff training, thus saving time for its contractor clients. 

Foundamental is a global investor who puts money in construction-tech and architecture, engineering and design technology enterprises. In the past few months, the Germany-headquartered investor has invested in multiple Indian startups. 

Early this month, Foundamental took part in the $5 million seed funding round raised by digital supply chain platform Metalbook as well as in $2 million pre-Series A funding by automation platform Prolance.

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