Funding

QwikSpec raises Rs.3.5 crores in Pre-Series A funding led by Brigade Innovations LLP

Bengaluru-based startup QwikSpec, which has consistently delivered significant time & money savings to its customers in the construction industry, has raised Rs. 3.5 crores in funding from a consortium of investors led by Brigade Innovations LLP. Other investors Mohandas Pai, Suhail Rahman – Director Asset Builders, Bobby Reddy of Indus Group, and UAE based private investor M George Oommen have also participated in this round.

The company plans to use the investment to enhance technical capabilities, business development, and in new customer acquisition.

QwikSpec raises Rs.3.5 crores in Pre-Series A funding led by Brigade Innovations LLP

Ajith, Co-Founder and Managing Director said “We will use the investment to significantly ramp up our technology capabilities as also invest in business development and customer acquisition. QwikSpec, being the leader in India, will continue to penetrate in the Indian market before looking at expanding to the Middle East and South East Asian markets in the near future.”

Founded in January 2015 by Ajith Alexander and Roby Kurien, QwikSpec is a cloud-based construction field inspection and asset management platform that helps developers reduce complexities in the construction of large projects by automating monitoring and supervising processes.

The company is a part of the first batch of Brigade REAP, India’s first startup accelerator program to focus on technology innovations in the real estate sector. Earlier, it has raised Rs. 2 crores in angel funding.

QwikSpec has completed over 120 projects across the entire lifecycle of construction right from excavation to handover. The startup claims to have doubled its monthly revenues in the last 6 months. Some of its key clients include Tata Housing, Mahindra Lifespaces, Brigade Group, Mantri Developers, Prestige Group, Omkar Developers, Vaswani Group, etc.

RESPONSES

You Might Also Like