End-To-End real-estate site operations platform startup, QwikSpec has secured Pre-Series A funding of Rs 3.5 Crore from a consortium of investors led by Brigade Innovations. The funding round also witnessed the participation of investors such as Mohandas Pai, Suhail Rahman of Asset Builders, Bobby Reddy of Indus Group, and UAE-based private investor M George Oommen.
The Bangalore-Based startup was started in 2014 by Ajith Alexander and Roby Kurien. QwikSpec is a great tool that helps our inspectors accelerate their work and removes a lot of current pain points of making paper entries. The startup also removes a lot of current pain points of making paper entries, errors in transcription, and identifying missing certificates.
Explaining in the startup, Alexander said, “QwikSpec will continue to penetrate in the Indian market before looking at expanding to the Middle East and South East Asian markets in the near future.”
QwikSpec currently handles over 120 projects from a host of builders, including Tata Housing, Mahindra Lifespaces, Brigade Group, Mantri Developers, Prestige Group, Omkar Developers, Vaswani Group, and Shapoorji Pallonji Real Estate and claims to have captured over 10 million data points from its portfolio projects and plans to offer predictive analytics to builders on cascading project delays.
Commenting on the investment, Nirupa Shankar, director, Brigade REAP, said: “QwikSpec brings in transparency and accountability across all stakeholders in the construction process, including contractors, sub-contractors, and customers. We believe the platform will become an imperative for the real estate fraternity in the new regulatory environment.”
QwikSpec will use the investment to significantly ramp up our technology capabilities as also invest in business development and customer acquisition. Read more about Indian Startup Ecosystem.