Construction tech startup Bandhoo raises $1.1 million from Unitus Ventures

"We aim to onboard several large real estate and infrastructure companies, about 25,000 SME construction contractors and more than 150,000 construction workers by 2022–23. With such dramatically increased scale of supply, getting workers and labour contractors to any project site anywhere in India will be far easier and cost and time effective,” he added.

With the real estate and construction industry taking the biggest hit in employment during April–May 2021 -- as it shrunk by 8.8 million on a base of about 64 million in March 2021 (CMIE report), Unitus Ventures thinks Bandhoo would be good choice since it delivers impact at scale for this segment of workers and enhances the productivity.

"Construction workers form the backbone of the Indian economy," the business daily quoted Unitus Ventures senior partner Surya Mantha as saying. "This will put India back on the global map in the coming decades as Bandhoo formalises a labour-intensive market like India,” said Mantha.

Since February 2020 onwards, the construction tech startup has about 6,500 SME construction contractors and more than 35,000 construction workers on board. Bandhoo had given service to over 10,000 people with jobs and more than 500 tenders for SME contractors across more than a dozen cities in India.

Michael and Susan Dell Foundation director Rahil Rangwala opines Bandhoo will help in bringing both workers and business owners under a formalised set up.

“Ventures like Bandhoo are a catalyst to this new growth, engaging migrant workers, contractors, and semi-skilled workers. We are pleased to see this startup emerge from our jobtech focused partnership with Unitus Ventures,” said Rangwala.