VC Fund Investments
Construction solutions provider Brick & Bolt to raise Rs.17-Cr from Foundamental
Bengaluru-based construction company Brick & Bolt is raising INR 16.6 crore (around USD 1.95 million) in its pre-Series B round of funding from Foundamental. The company is to issue 369 pre-Series B compulsory convertible preference shares at INR 4,50,087 to raise the sum. The proceeds will be used for immediate working capital and long-term funding requirements.Brick & Bolt provides construction solutions such as carpentry, woodwork, kitchen renovations for land and home owners in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune.
Between Oct 2019 and Jan 2023, Brick & Bolt had attracted about USD 14 M from Accel India, Celesta Capital, Foundamental and Peak XV Partners.For FY24, Brick & Bolt had reported about INR 42 Cr in Operating Income and about INR 31 Cr in Net loss.
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