Kolo, a home construction marketplace, has raised $550K in its pre-seed round led by Better Capital. Singularity Ventures and other marquee investors such as Haryopratomo, Rajesh Sawhney of GSF India and Vir Kasyap have also participated in the round.
According to the Bengaluru-based startup, the funds will be used for building the initial team, product development and establishing its presence in the markets in India.
Founded by Jery Althaf, Pranav Garg, Aayush Sharda & Vivek Mitta, Kolo provides a platform for homeowners to construct their homes. It also provides a host of digital tools to the construction service providers and brands.
The startup claims that it has seen five-folds growth in the last two months. The business is currently live in 13 cities such as Malappuram, Palakkad, Kozhikode, Thissur, Wayanad, Ernakulam, Thiruvananthapuram, Kollam, Kasaragod and Alappuzha among others.
The lead investor in this round, Better Capital has made 59 investments including this round. Recently the micro venture firm had participated in Y-Combinator backed inai’s $4 million seed round which was led by Paua Ventures and 9Unicorns.