Kolo raises $550K from Better Capital
Kolo, a home construction marketplace, announced that it has raised $550,000 in a pre-seed round led by Better Capital.
The round also saw participation from home construction VC Singularity Ventures, and other marquee angel investors, including Ex-GoPay CEO Aldi Haryopratomo, Jiva.ag CPO Aakash, Shopup CEO Sujayath, GSF Founder Rajesh Sawhney, and Ex-Babajobs Founder Vir Kasyap.
The Bengaluru-based startup plans to use the freshly raised funds for strengthening the core team, product development, and setting up a leading position in the first few markets in the country.
Established by Southeast Asian unicorn GoJek’s former executives Jery Althaf, Pranav Garg, Aayush Sharda, and Vivek Mittal, Kolo offers a social-first digital platform for homeowners to construct their homes.
Speaking about the funding, Jery Althaf, Co-Founder of Kolo said, “We found that decision-making in home construction is inherently a ‘social’ activity. The homeowners go through huge volumes of content and interact with their family, relatives, and service professionals to make decisions about their ‘dream home’. So we are taking a social-first approach to support the entire home construction journey through Kolo.”
Kolo strives to streamline the unorganized construction ecosystem. Besides homeowners, Kolo offers a slew of digital tools to construction service providers and brands.
Pranav Garg, Co-Founder of Kolo said, “We strongly believe in enabling the existing ecosystem of service providers, brands, and material providers.”
“We got our inspiration when we saw large active Facebook communities formed around the home. We were blown away by the hunger we saw there. We also had first-hand intense experiences during construction as both Pranav’s and my families recently constructed new homes,” Jerry added.
Commenting on the funding, Vaibhav Domkundwar of Better Capital said, “Home is a $200 billion-plus untapped market that suffers from an opaque ecosystem and a broken consumer experience. Kolo’s team, with their experience in building robust digital products at scale, has created a social-first format to lead with the consumer experience in re-imagining the construction marketplace in India from the ground up. We are excited to partner with the Kolo team as they unlock this vision.”
Kolo seems to be establishing a strong presence in the market with its unique approach. I’m sure the company will continue to emerge as a leading player in the market. My best wishes to the team of Kolo.Shishir Gupta, Founder and CEO, StartupLanes
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