The Indian contracting and design business has not been in a position to hold tempo with new India nonetheless utilizing archaic strategies of design, improvement, and website work processes. It has led to a chaotic, inefficient, and unorganised sector with far beneath par contribution to the Indian economic system.
Being an architect and inside designer, Debashree Ghatak was all the time conscious of the challenges being confronted by contractors engaged on her numerous websites in transacting digitally and managing their companies, particularly shortly after demonetization.
“The group of contractors are very expert of their hands-on work however nonetheless lag behind in utilizing digital instruments. Now we have all the time needed to assist them,” says Debashree.
With a imaginative and prescient to handle the big untapped actual property enchancment business and assist professionals digitize their companies in addition to enhance cashflows, ReNEWate was constructed within the yr 2018.
The husband-wife duo and co-founders of ReNEWate, Supratik Ghatak and Debashree Ghatak, carry with them a number of a long time of expertise in each actual property and know-how domains, having each nationwide and worldwide expertise in architectural and inside design, challenge administration, provide chain administration, landscaping, constructing building, materials choice, cataloguing and utility.
The way it works
The contractor digitisation app helps all property enchancment professionals together with carpenters, civil contractors, painters, inside designers, electrical contractors and others to enhance the best way they promote, report and receives a commission with the assistance of the sensible instruments within the ReNEWate app. This helps them save money and time.
“ReNEWate makes use of the most recent tech in AR and AI with native language assist to bridge the talent hole and energy a brand new digital age for property enchancment professionals and contractors,” provides Supratik Ghatak
With a crew of 20 members, the Pune-based startup claims to be the primary of its type in India to construct such a platform supporting hundreds of thousands of renovation contractors, property enchancment professionals, and companies to handle their enterprise digitally.
Contractors, designers and designers save time, develop their enterprise, and enhance money circulate and get a variety of advantages that ReNEWate brings when it comes to uncooked materials pricing in addition to affords. For all this, ReNEWate expenses a small share of the transactional quantity making a win-win enterprise mannequin.
The platform claims to have greater than 25,000 customers throughout the net and cellular app.
Development and market
In response to reviews by PwC/ JLL and International Market Insights, India’s property enchancment market is upwards of $50 billion yearly. ReNEWate is filling an necessary hole on this multi-billion-dollar business by digitizing contractors, designers and designers with a mobile-first vernacular-first app that brings a easy but highly effective device of their fingers to transform requests into confirmed initiatives sooner, handle them effectively, get info on newest materials tendencies and shut the loop by accepting digital funds and dramatically bettering their money flows, thus serving to them work smarter.
The know-how is utilized by quite a few contractors, design corporations, small and medium decor store homeowners, and has empowered them to make use of straightforward to know know-how to enhance gross sales cycles, handle their enterprise higher and considerably improve their income.
In October 2020, the startup raised a pre-seed spherical of $272,000 (Rs 2 crore) from Higher Capital. With this capital, the deep tech startup plans to develop its product choices, speed up development, and additional the event of its know-how choices to simplify and enhance the end-to-end workflow for property enchancment professionals.
The startup has earlier obtained a grant from the Division of Science and Know-how, Authorities of India and IIMCIP for being one of many prime Sensible 50 startups. ReNEWate was additionally a part of Brigade REAP — Asia’s first property tech accelerator programme.
Any progress on this business will additional assist development in lots of aligned industries, improve employment and encourage entrepreneurship to additional rework India into a contemporary developed nation.
“ReNEWate is on a mission in the direction of making a shared economic system for a greater India, an aspirational India of hundreds of thousands of entrepreneurs on this business. ReNEWate needs to be a function wealthy platform of selection that’s utilized by each contractor and designer and thus empowers them so as to add the digital benefit to handle and scale their enterprise sooner,” says Debashree.