Powerplay raises $7.14 million

The latest round of funding was led by Accel.

September 09, 2022 10:04 IST | India Infoline News Service
Powerplay, a company in construction management, has raised $7.14 million (about Rs56 crore) from investors to expand.
The platform's most recent Series-A round, which was headed by Accel and included Sequoia Surge, India Quotient, and the Snapdeal founders, raised $7.14 million.
However, considering this is the startup's second fundraising in the past 13 months, the firm will use the money to expand its primary business.
Between January and June 2022, the firm oversaw construction projects worth a total of Rs7,500 crore. The company has raised around $13 million since its launch in 2020.
"Having gotten the second round of funding from current investors shows their conviction in the team, product, and tech adoption in the market," said Iesh Dixit, co-founder, and CEO of Powerplay. He stated that although construction is one of the main drivers of the Indian economy, it still makes use of antiquated techniques.

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