PE-VC Fund Investments
Construction mgmt platform Powerplay to raise Rs.17-Cr from Accel, Surge Ventures
Bengaluru-based construction management startup Powerplay is to raise INR 17.13 crore (USD 2 million) through the issue of 1,739 Series A2 CCPS at INR 98,512 per share from its existing investors, Accel India and Surge Ventures. Accel India and Surge Ventures will each invest INR 8.56 crore.Founded in 2019 by Iesh Dixit and Shubham Goyal, Powerplay simplifies site-to-office communication to manage construction and architectural projects. The company claims to have 700K+ users and to have managed 85,000+ projects.
Between Apr-21 and Sep-22, Powerplay had attracted about USD 12 M from Accel India, India Quotient, Peak XV Partners, Others.For FY24, Powerplay had reported about INR 4 Cr in Operating Income and about INR 32 Cr in Net Loss.
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