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| Founders of Renewate - Supratik Ghatak & Debashree Ghatak |
The funding allows ReNEWate to expand its product offerings, accelerate growth and to further the development of its technology offerings, to simplify and improve the end to end workflow for property improvement professionals.
Renewate Infrastructure Technologies Pvt Ltd, a Pune based deep-tech startup, announced an undisclosed amount in a pre-seed funding round led by Better Capital. The funding allows ReNEWate to expand its product offerings and accelerate growth as well as expand its presence throughout India.
Founded by husband-wife duo Debashree Ghatak and Supratik Ghatak, ReNEWate is India's only platform for helping millions of renovation contractors, property improvement professionals and agencies to manage their business digitally. With Renewate, millions of contractors and designers across India get a novel yet simple tool in their hands to convert requests into confirmed projects faster, manage them efficiently, get information on latest material trends & close the loop by accepting digital payments and dramatically improving their cash flows. Renewate’s product comes packed with latest in AR and AI - all with native language support bridging the skill gap and powering a new digital age for property improvement professionals and contractors.
India’s property improvement market is upwards of $50B annually. Renewate aims to empower its users to go from a chaotic and unorganized process to a digitally-planned approach powered by the Renewate app. Contractors save time, grow their business and improve cash flow and get a wide range of benefits that Renewate brings in terms of raw material pricing as well as offers. For all this, contractors pay a percentage of their revenue to Renewate creating a win-win business model.
The founding team has several decades of experience in both the real estate and technology domains, having worked with global firms in the areas of software technology, cloud computing, AI, architectural and interior design, project management, supply chain management as well as material selection, cataloging and application.
Speaking on the investment, Debashree Ghatak and Supratik Ghatak, Founders of ReNEWate issued a joint statement saying, “We want to remove the common pain points that contractors and professionals face. Many of the contractors who are our customers, are at the bottom of the pyramid when it comes to literacy & education but really up the chain when it comes to showcasing high-value skill sets. With powerful yet simple technology at their hands they can be empowered to take control of their business from closure of their project sales to improving cash flows. We found instant alignment with Better and are glad to be partnering with them to build out our vision.”
“Millions of property improvement professionals & contractors are still using archaic and unproductive methods for running their businesses, losing time as well as revenue. Renewate is filling an important gap in this multi billion dollar industry by digitizing contractors with a mobile-first vernacular-first app that brings simple yet powerful tools to help them work smarter. We are excited to partner with Debashree and Supratik,” said Vaibhav Domkundwar of Better Capital, an early investor in several SME digitization innovators like Khatabook, Teachmint, BharatAgri, Saveo & others.
ReNEWate allows multiple easy to use features that enable professionals to automate certain processes like documentation, measurements, estimation and invoicing. The technology is used by numerous contractors, designer companies, small & medium decor shop owners and has empowered them to use easy to understand technology to improve sales cycles, manage their business better and substantially increase their revenue.
The startup has earlier received a grant from the Department of Science and Technology, Government of India for being one of the final top Smart 50 startups, who are poised to transform India as part of the Smart 50 challenge organized by the Department of Science and Technology, Govt. of India and IIM Calcutta. Renewate was earlier part of Brigade REAP, Asia’s first proptech accelerator program.
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