OfBusiness invests $2.5 M in construction software co TraceCost

Industrial goods and services procurement platform OfBusiness has invested USD 2.5 million in Delhi-based TraceCost. The acquisition is expected to drive digital adoption in construction-focused companies across India, North America and the Middle East. Tracecost is an online real-time construction cost-tracking software which enables real-time collaboration to manage resources and finances of construction projects. Its software lets builders review site operations remotely, predict the right inventory levels and optimize delivery schedules.