tvwnewsindia logo

Powerplay Raises US$5.2 Million Funding From Sequoia Capital

Fundinng New

App for construction management Powerplay has raised US$5.2 million in capital from Accel Partners and Surge, Sequoia Capital India’s rapid scale-up programme for entrepreneurs in India and Southeast Asia. The founders of India Quotient and Snapdeal also took part in the round.

Powerplay is a free smartphone software that connects various construction stakeholders, allowing them to interact and collaborate more effectively. This one-stop platform may help project managers, workers, and partners keep track of their progress, deliverables, and payments, as well as expedite the often complex and multi-stakeholder project management process.

India’s construction industry is the country’s second-largest contributor to GDP, employing 16 percent of the country’s workforce. Yet, despite the necessity for digitisation of the construction process, which has been exacerbated by the pandemic, relatively few tech solutions have emerged. Above that, the business is dominated by small and medium contractors, who still follow progress with pen, paper, and WhatsApp. and struggle to maintain visibility over the work of so many stakeholders involved. As a result, construction projects often face very costly delays when initial time and budget estimates go wrong.

Related Posts

Market Live

Weather Updates

Cricket Live

Gold & Silver Rates

Recent News