Saturday, June 22, 2024

Education

Home construction & renovation app Kolo raises INR 31 crores led by RTP Global

May 12, 2022 05:21 PM

NEW DELHI: Kolo, the leading home content - community in India, has announced that it has raised INR 31 crores from Global VC firm RTP Global and existing investor Better Capital. The new investment will help fuel the company's continued growth, enhance the consumer side product offerings including the content-recommendation engine, the community offering, digital portfolio & tools for the professionals and expand their presence across India.

Founded in 2020 by ex-Gojek team members in the Southeast Asian unicorn - Jery Althaf, Pranav Garg, Aayush Sharda & Vivek Mittal, Kolo is a content-community mobile app for homeowners to build their dream home and for construction providers and brands to create a digital presence and receive opportunities from homeowners. Within a short time, the company has become one of the top apps in the home construction segment in the country.

“Two key consumer behaviour trends drive our growth. First, consumers want to be involved in their renovation projects given the amount of money they spend and since the decision has a lasting impact on how they live. Previously they didn’t have avenues to learn about the choices except for their immediate relatives or friends. Second, the influence of the media in driving transaction decisions. From coming up with suggestions, to choosing the service provider based on photos/videos and learning about different roofing options they have, content informs and provides transparency hence puts power in the hands of the consumer” - said Jery Althaf, Co-founder of Kolo.

“Home is a once-in-a-lifetime purchase for a majority of Indians who invest a significant amount of their wealth with a lot of passion in building their homes. However, in most cases, they go through a painful experience that is non-transparent & reliant on face-to-face interactions and manual processes. We aim to disrupt the space using technology, building content based mobile first solutions to democratise information & create a one stop solution for homeowners, service professionals & building material providers.” added Vivek Mittal, Co-founder of Kolo

Have something to say? Post your comment