Hocomoco Raises $1 Million Funding, Rebrands To Wehouse
Hocomoco, a Hyderabad-based tech-powered construction aggregator, has recently rebranded itself to Wehouse and raised $1 million in pre-series A round from Anthill Ventures and a group of angel investors in its first funding round.
As per the startup, the funding will be utilized to upgrade the technology platform and hire for key roles in its expansion to cities pan-India.
Wehouse | Home Construction & Monitoring Startup
Founded by Sripad Nandiraj, Wehouse (formerly known as Hocomoco) is a tech aggregator platform that facilitates end-to-end construction services and simplifies the construction process by bringing all entities under one roof.
Wehouse provides end-to-end services from legal permissions, architectural structural design, and construction execution to interiors and monitoring services.
Speaking about the development, Sripad Nandiraj said,
“Reinventing is an important part of keeping a corporate entity relevant and aligned with its entrenched entrepreneurial ethos. Our new name embodies our industrial and individual worldview. It means we, as a company and our clients, are building their dream home together as a family. Our recent funding is an indication that we are moving in the right direction, and it gives us immense pleasure that investors are showing faith in our brand and traction thus far.”
The Hyderabad-based startup also offers e-monitoring, which enables customers to check the progress of the work and material consumption on-site through photos and videos of work and notifications, providing a surveillance-secured project site to prevent theft and damage throughout the project.
The construction industry is expected to grow from $250 billion in 2022 to $530 billion in 2027. Wehouse aims to capture a fair share of this growing market.
This fresh funding round comes on the heels of a major commercial milestone achieved by Wehouse of completing 1 million square feet of built-up area. As per the startup, it is slated to touch Rs 100 Cr of booked revenue in the next few months.
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