Rootefy made available building material for customers via ecommerce platform and BNB Group is a real estate group in Gurgaon.
The firm plans to use the raised amount to develop their technology, expand team and infrastructure building methods.
Abhinav Gupta makes the first investment in the industry he is comfortable in, and he is also planning to invest in Fintech businesses in future, as per his statement.
Gaining from my experience in the construction industry, I believe that Rootefy will give a kick-start to change the unorganised sector to be an organised one, said Abhinav Gupta.
The deal took place under Moolah, which is a startup advisory brand of AMDP Advisors.
Nitish Gupta, co-founder and chief executive, Rootefy said, We aims to ease the process of construction and consolidate the segregated market for the benefit of the customers.
Manish Kishore, CTO of Rootefy said, We have products which not only take us back to nature but give us benefits of future technologies in addition to the main theme of construction material e-services.
The major products that startup deals in comes under following categories safety security, construction material, tools, kitchen material, electrical, bathroom fixtures, home equipments and also includes products required in horticulture and solar energy tools.
Startup also aims to hoist more funding of around Rs 20 crore in the next round. The plan is to us ethe money to expand their operations in southern and western regions of the country and also help in development of tier II and III cities in terms of infrastructure. Till date, the firm has managed to bring Tata, Havells, Godrej and Kirloskar like big brands on board.