Home construction and renovation start-up Kolo has raised $4 million from a global VC firm RTP Global and existing investor Better Capital. Kolo said that the new investment will help fuel the company's continued growth, enhance the consumer side product offerings including the content-recommendation engine, the community offering, digital portfolio/ tools for the professionals and expand their presence across India.
Founded in 2020 by ex-Gojek team members in the Southeast Asian unicorn, Jery Althaf, Pranav Garg, Aayush Sharda and Vivek Mittal, Kolo is a content-community mobile app for homeowners to build their home and enables construction providers and brands to create a digital presence and receive opportunities from homeowners. Within a short time, the company has become one of the top apps in the home construction segment in the country, according to an official handout.
Kolo’s app allows homeowners to see design ideas to get inspired, learn about them and make that happen with professionals. For professionals, Kolo helps in creating a digital portfolio, share their work videos/photos/expertise to homeowners and other professionals and receive opportunities.
“Two key consumer behaviour trends that drive our growth. Firstly, consumers want to be involved in their renovation projects given the amount of money they spend and since the decision has a lasting impact on how they live. Previously they didn’t have avenues to learn about the choices except for their immediate relatives or friends,” Jery Althaf, co-founder of Kolo said.
“Secondly, the influence of the media in driving transaction decisions. From coming up with suggestions, to choosing the service provider based on photos/videos and learning about different roofing options they have, content informs and provides transparency hence puts power in the hands of the consumer,” he added.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today