Onsite Raises $1.50 Million In Seed Funding Round The company will use the fund to accelerate its product development and expand its market footprint
By Teena Jose
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Onsite, a construction tech startup, has raised $1.50 million in a Seed round from Artha Venture Fund, Foundamental, and Madhumala Ventures, amongst others. The company will use the funds to accelerate its product development and expand its market footprint.
"Onsite addresses the real 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 1 lakh businesses to streamline their operations through technology, easily and effortlessly," said Akshansh Agarwal, co-founder and CEO, Onsite.
The Delhi-based startup empowers small and mid-size construction businesses across 200 cities by standardizing an otherwise unorganized construction ecosystem. This move marks Artha Venture Fund's 22nd investment from its INR 225 crore micro-VC fund, claimed by the company in a statement.
"Akshansh, Dheeraj, and Sumit make a strong founding team with proven experience in construction and technology. Their ability to counter complex challenges with simple yet effective solutions is noteworthy. Considering that over 66 per cent 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, Artha Venture Fund.
Onsite leverages a mobile-first platform for contractors to monitor their construction projects, helping them with faster, better decision-making and smarter resource deployment.
