Many parts of the construction platform in India are unorganized by the developers. Most of the experience of construction, finding the right price to the right professionals and the optimum timelines, tends to be a drain on resources and time.
Its sector is facing many issues such as – debt burdens, changing client demands, cash flow problems, unaccounted project delays, and lack of transparency.
This Bengaluru-based startup, Brick & Bolt is fixing the split market. Both the startups, along with this technology -enable the construction of the marketplace, are bringing trust, transparency in housing projects, and predictability.
Brick & Bolt | Founding Team
The company was founded by Jayesh Rajpurohit, with his nephew Arpit Rajpurohit. Brick & Bolt is an e-commerce startup that uses cutting-edge technology and state-of-the-art systems and processes to make commercial construction simple, reliable, and transparent for customers.
Its procedure is augmented by Artificial intelligence based on engines that predict the work schedules and manage the progress & quality of projects using computer vision.
Beginning of Brick & Bolt
This company was named by Jayesh, a civil engineer from IIT Roorkee, who was informed that the platform suffered from a “severe tech deficit”.
Jayesh's nephew, Arpit Rajpurohit, met with several contractors to understand the issues faced by customers. In research, they found tangible pain points, and the segment had low competition. They identify the issues such as lack of transparency in contracts, mid-project price escalations, unexpected delays, and payment issues as well.
The duo started Brick & Bolt technology, a tech-enabled marketplace.
USP Of Brick & Bolt
It is an End-to-End online store marketplace that connects customers along with services including architects, contractors, designers, carpenters, and some other construction professionals.
It manages the workflow of new updates from site engineers throughout the construction period and permits communication between all parties involved.
The startups operate on an escrow model to resolve the cost escalations and facilitate payment transparency. Nowadays, customers transfer money for each stage of the project, and payment is released to the contractor after the completion of that stage.
This startup is aiming to hit an annualized GMV of $5 billion and have a presence in India’s top 15 cities by the year 2025. In addition to this, Brick & Bolt has been an aggressive expansion target and is expected to make a launch in Delhi, Pune, and Chennai and book 1,500 projects by the end of the year.