The tech-enabled construction aggregator will utilize the funding to ramp up the technology platform and expand its team size to cater to its Pan India expansion plans.
The Pre-Series A funding round was led by Anthill Ventures and a group of angel investors.
Hyderabad-based tech-powered construction aggregator, Hocomoco, has recently rebranded itself to Wehouse and raised USD 1 million from Anthill Ventures and a group of angel investors in its first funding round. The funding will be utilized to upgrade the technology platform and hire for key roles in its expansion to cities pan-India.Wehouse is a tech aggregator platform that facilitates end-to-end construction services, helping customers build their dream homes. The startup simplifies the construction process by bringing all entities involved in building a home, together, under one roof. It provides end-to-end services from legal permissions, architectural structural design, and construction execution to interiors and monitoring services. It also offers e-monitoring, which enables customers to check the progress of the work and material consumption on-site through photos and videos of work, and notifications. Thus, providing a surveillance-secured project site to prevent theft and damage throughout the project.
Speaking about the funding and the rebranding, Sripad Nandiraj, Co-Founder and CEO, Wehouse, said, “Reinventing is an important part of keeping a corporate entity relevant and aligned with its entrenched entrepreneurial ethos. Our new name embodies our industrial and individual worldview. It means we, as a company and our clients, are building their dream home together as a family. Our recent funding is an indication that we are moving in the right direction, and it gives us immense pleasure that investors are showing faith in our brand and traction thus far. The funding will be used to bolster our tech and prime us for scalability. Currently, more than 2000 workers are indirectly employed on different projects across Wehouse’s projects. We want to keep increasing this number and give these workers more jobs as we grow."
Sailesh Sigatapu, Partner at Anthill Ventures said, “We are thrilled to invest in Wehouse. As a company, they are redefining how technology is being applied to construction and home-building, and we are excited by their vision and innovation in this space. We firmly believe that a startup like Wehouse with its technology-first approach and deep domain expertise has a large opportunity to organize this fragmented market. This is just the beginning of our bold bet in this space, as we look forward to the launch of the first cohort of Gruhas ASPIRE, a scaling program for early-stage proptech companies in India.”
The construction industry is expected to grow from $250 billion in 2022 to $530 billion in 2027, with a compound annual growth rate of 7.8% and Wehouse aims to capture a fair share of this growing market. The new funding comes on the heels of a major commercial milestone of Wehouse completing 1 million square feet of built-up area. They are slated to touch INR 100 Cr of booked revenue in the next few months.
About Wehouse: Wehouse is a tech-powered construction aggregator platform that facilitates end-to-end construction services, helping their customers build their dream homes. The platform takes care of the legal permissions, architectural structural design, construction execution, interiors and monitoring services. The startup intends to simplify the construction process by bringing together all entities involved in the home-building phase. Wehouse is established on the 4T idea, which stands for Transparency, Time Saving, Tracking, and Adoption of Technology.
Founded in 2017, the foundation behind Wehouse’s pioneering proptech framework is to reform the way construction is currently being done. The platform enables customers to build their homes from scratch by connecting them to the best partners in the construction industry. By pooling the best partners, they are creating the most seamless platform that can assist in the construction of dream homes for its patrons. The spearhead leading the helm at Wehouse is Mr. Sripad Nandiraj, as the Founder and CEO. Under the industrious team, the company has been able to successfully complete 200+ projects and has a built-up area of 1 million square feet.
Manifesting an overarching attitude, Wehouse presents a very project-agnostic stance. The company’s trailblazing bouquet of offerings truly demonstrates a one-stop-shop for all construction concerns and requirements. The stack of services includes residential construction, commercial construction, assistance in project management, assiduous architecture and structuring, and interior designing and styling smart homes. All of this is orchestrated through the best aggregated partners available on their platform.
The philosophy ingrained within Hocomoco is to reform the construction journey of their customers. The company employs a tremendously transparent workflow where a five-point process is followed. This process entails understanding client requirements, mapping costs, providing scheduled visits for the project owners, smooth work execution, and hassle-free delivery. Client satisfaction is central to the company’s being, therefore an e-monitoring facility has also been integrated within the platform. This feature enables customers to check the progress of work and material consumption online. It also provides a surveillance-secured project site to prevent theft and damage, photos and videos of work, and notifications to communicate work progress throughout the project.
The company’s vision is to become India’s largest one-stop integrated tech-based construction aggregator platform for all residential building requirements. Sitting squarely at the intersection of technology’s merger with proficient construction aggregation, Wehouse is providing the right quality for the right price and redefining construction. The brand wishes to provide a network that allows customers to eliminate their footwork and make everything available with a single click. They are more than just mediators in the process of home construction; they are present at each and every step until the end result is successfully achieved.
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