Nirmaan, a B2B Construction Marketplace, Raises Seed Funding Led by Equanimity Investments
Nirmaan, a Kolkata-based B2B marketplace for construction materials, has announced the successful closure of its seed funding round, with Equanimity Investments leading the effort. While the exact amount raised remains undisclosed, the company has clear plans for the infusion of funds, including advancements in technology, geographical expansion, and the introduction of additional product categories.
Founded in 2023 by Mayank Bhawsinghka and later joined by Manish Maheshwari as a co-founder in 2024, Nirmaan is on a mission to bridge significant distribution gaps in the construction materials industry, particularly in suburban metros and Tier-II and Tier-III towns. By leveraging technology, the startup connects manufacturers directly with retailers, bringing efficiency and transparency to a market often characterized by fragmentation and inefficiencies. Starting its journey with sanitaryware, Nirmaan has already catered to over 1,000 retailers within an 80-kilometer radius of Kolkata, signaling early success in its operations.
For manufacturers, Nirmaan offers a solution to longstanding issues of limited market visibility and an opaque value chain. By expanding their reach and enhancing brand visibility, the platform provides manufacturers with tools to navigate the challenges of fragmented markets. Retailers, on the other hand, benefit from a seamless experience that simplifies product discovery, streamlines order placement and reduces the need to hold large inventories. Through its mobile app, retailers can make smaller, frequent purchases, effectively saving on working capital while ensuring timely restocking.
Building Momentum: Nirmaan Raises Seed Funding
The construction materials sector faces a host of systemic issues, from poor communication between manufacturers and retailers to delivery delays and inventory management inefficiencies. These challenges often result in financial strain for both sides, with retailers forced to overstock and manufacturers struggling to optimize distribution. Nirmaan’s model directly addresses these pain points by fostering a transparent and efficient ecosystem that benefits all stakeholders.
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Rajesh, Managing Partner at Equanimity Investments, emphasized the value of the founders’ expertise in supply chain management and their deep understanding of the industry’s challenges. He highlighted the fragmented nature of the construction materials market, where national players account for less than half of the market share and regional brands face even greater limitations. Expressing confidence in Nirmaan’s potential, Rajesh noted the company’s plans to expand its product range and extend its geographic reach, positioning itself as a key player in a sector ripe for disruption.
