Construction Tech startup Project Hero raises Rs 25.5 Crores (USD 3.2 Mn) in Seed funding from Ankur Capital and Omidyar Network India
Summary
Previously, the company had raised $450k from Titan Capital, Anupam Mittal and Varun Alagh in July 2021.The labour supply chain in India is extremely fragmented. These contractors take advantage of lack of transparency to pay lower wages and at the same time prevent workers from being able to evaluate their skillset and market worth. We also feel a product first approach is the right way to solve these problems.Krishnan Neelakantan, Partner, Ankur Capital shared, The trust deficit among key stakeholders in the industry leads to suboptimal outcomes for all, with workers being excluded from a professional experience around their work and career. By leveraging technology to bring transparency into working hiring and engagement, Project Hero is building a trusted platform that can tap into a large market opportunity.Badri Pillapakkam, Partner, Omidyar Network India said, Aligning with our vision to improve the lives of the Next Half Billion, Project Hero formalizes the labor operations of a highly unorganized and under-protected construction sector through innovative use of technology and a bold vision.He further added, In this rapidly digitizing world, Project Hero has the potential to create a significant positive impact on hundreds of thousands of workers through better working conditions, transparency, timely payments and greater utilization.Before starting Project Hero, Co- Founders, Satya Vyas, Pukhraj Grewal & Raghu Chopra, all IIT Roorkee graduates, ran a general contracting company for 5+ years, which is where they experiencedAbout Project Hero: Project Hero lets contractors hire and manage construction workers of various trades like barbending, shuttering, masons , painters etc in a reliable and cost effective way.Construction workers join project hero to get direct access to high paying jobs, training and other financial products which help them lead a more dignified life. Their initial insights & knowledge of the industry helped them rapidly build the MVP for contractor & construction workers who they refer to as Heroes.