Proptech firm Bandhoo raises pre-Series A round led by VCats

Proptech firm Bandhoo has raised Rs 7.35 crore ($0.9 million) in a pre-Series A funding round led by Venture Catalysts along with participation from Neeraj Aggarwal, Manish Gupta, S Srinivasan, Amit Khera, and Abhishek Kumar.

Bandhoo had previously raised $1.5 million in its seed round in June 2021 from Unitus, InfoEdge Ventures, and Bharat Innovation Fund.

The fresh funds will be used to continue our investments in the Technology solutions we offer as well as Go-To-Market teams on ground in various metro cities.

Co-founded in 2020  by Prashant Gupta and Sridhar Sundaram, Bandhoo is a construction technology and services company which offers multiple cloud-Saas and marketplace solutions that cater to the construction ecosystem like developers, builders, contractors, PMCs, material suppliers and construction workers.

According to the Bengaluru-based company, it leverages SaaS solutions and managed marketplaces and empowers stakeholders across real estate, infrastructure, and construction domains, ensuring efficient project management and uninterrupted operations.

Bandhoo claims that it has more than 20 developers, 10,000 material suppliers, 1 lakh contractors, and 2.5 lakh construction workers.

Venture Catalysts is an integrated incubator and typically invests $250K – $2 Mn in early-stage startups where it has invested in over 300 startups since inception.