Bengaluru-based startup HomeRun has successfully raised $12 million in a new funding round called Series A+. This major investment was led by a well-known venture capital firm named Nexus Venture Partners. Other existing investors also jumped in to support the company. These investors include Sorin Investments, Titan Capital, Sparrow Capital, and Consumer Collective by Atrium. This exciting new financial boost comes shortly after the startup raised $6.6 million earlier this year, showing strong and continuous investor trust in their business model.
The company plans to use this fresh capital to expand its operations into brand-new city markets. Additionally, HomeRun will invest the money to strengthen its delivery supply chain, upgrade its technology platform and grow its product portfolio. Founded by entrepreneur Pukhraj Grewal, HomeRun operates as a quick commerce platform specifically for construction and interior materials. The startup provides a unique service by delivering heavy materials directly to contractors and homeowners within just 60 minutes. Their extensive online catalogue includes essential items like cement, plywood, wires, paints and hardware.
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The startup has successfully fulfilled more than 100,000 orders. It has also recorded a massive 8X growth over the past year. While it currently operates mainly in Bengaluru, it is growing fast. Before starting HomeRun, Grewal gained valuable experience by co-founding an interior contracting startup called Tornado and a labour marketplace named Project Hero. HomeRun is part of a rapidly growing business sector focused on rapid delivery for building.
