Construction management software startup LivSYT has secured $2.5 Mn in a seed funding round from Valley Quad and Inventus Capital.
Founded in 2021 by Karthik Thumu, the startup offers easy-to-adopt self-use SaaS-based software designed for contractors, modular manufacturers and third-party inspectors to accelerate the project speed. The software offers real-time data about the operations and controls at a granular level, enabling a synchronised mobilisation of resources to improve job-site output.
Commenting on the goals of LivSYT, the founder said, “We are excited to embark on this new journey, leveraging the expertise and support of our investors to further our mission of transforming construction management.”
With this, the total amount of funding raised by the startup amounts to $4.5 Mn. LivSYT will use the freshly raised funds to expand into the US market and explore new artificial intelligence (AI) and machine learning (ML) use cases.
Currently, the startup is at the scale of $1 Mn annual recurring revenue (ARR) and aims to take it to $5 Mn by November 2025.
LivSYT claims to have onboarded names like Systra, DRA and Elemental Realty as its clients.
According to a Statista study, the Indian construction and design software market reached $134 Mn in 2023, and is expected to exhibit a growth rate of 8.17% to reach $198 Mn by 2028. However, the US is expected to generate the most revenue in global comparison.
Earlier this year, Brick&Bolt, which operates in a similar space, secured $10 Mn in Series A funding to enhance its tech stack, strengthen its leadership team and expand to more than 12 cities.
Also, B2B construction marketplace Magma raised $3.3 Mn for expanding product offerings, business operations and factory stack. It also plans to expand its team.
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