Design and Construct, a real estate proptech-enabled construction company has acquired The Better Co, a mid-sized construction company, raising the group’s valuation to over Rs 125 cr.
Design and Construct intends to increase its pan-India presence and diversify its service offering with the acquisition. With its headquarters in Bangalore and offices in Hyderabad, Pune, and Mysore, Design and Construct has been in the building industry since 2020.
“This is a memorable moment, and we are happy to be coming together and working under the umbrella of Design and Construct. We hope to strengthen the group by sharing our expertise and adding value to the existing basket of services,” said Fahim Alam, CEO of The Better Co.
After the acquisition, the company will go by its brand name, Design and Construct. The Better Co, which specialises in civil construction, was founded in 2020.
“By acquiring The Better Co, we will be acquiring the employee talent and skill-sets also, and are very confident that The Better Co, will help smoothen and fasten our global growth plans that we have on the anvil. We can’t wait to get started with such fusion,” Priyadarshi Mishra, Founder of Design and Construct, said.
A pre-seed round of funding totalling USD 250,000 was obtained from angel investors by Design Construction to expand the business, add on more employees, and upgrade technology.
“We are also hoping to clock twice the turnover in the current financial year as compared to FY 21-22. We have also acquired talent in different verticals, which now makes the employee strength over 300,” Gaurav Nanda, CFO – Design and Construct, said.
To produce end-to-end independent houses, Design and Construct aims to expand into tier 2 and tier 3 cities. This will involve conceptualising, designing, building, and offering remodelling services for villas, bungalows, duplexes, penthouses, farmhouses, and homes.
“Our next step is to create a global presence in Dubai, Malaysia, and Singapore. We are developing our SOP’s for expansion in the coming months. Apart from offering tech enabled platforms for individual home construction clients, we are also planning to build a team for on demand services”, said Mishra.
By the end of this year, the company hopes to have VR experience centres established in all major cities. Design and Construct offers its existing customers a B2B app, an innovative e-tracking system that allows for real-time project tracking without visiting the website. The company is also working to enter the B2C segment.