Home renovation

Home improvement app Kolo raises $4 million led by RTP Global

The company has grown ten times since the last fundraising. What started in Kerala has now spread to Delhi, Madhya Pradesh and Rajasthan

Kolo, India’s leading home content community, announced it has raised $4 million from global venture capital firm RTP Global and existing investor Better Capital. The new investment will help fuel the company’s continued growth, enhance consumer-side product offerings, including content recommendation engine, community offering, digital wallet and tools for professionals, and expand their presence across India.

Founded in 2020 by former Gojek team members in Southeast Asia’s unicorn – Jery Althaf, Pranav Garg, Aayush Sharda and Vivek Mittal, Kolo is a content community mobile app for owners to build their dream home and enables building suppliers and brands to create a digital presence and receive opportunities from homeowners.

“Two key trends in consumer behavior that are driving our growth. First, consumers want to be involved in their renovation projects given the money they are spending and since the decision has a lasting impact on their lifestyle. Previously, they had no means of knowing more about the choices except from their close relatives or friends. Second, the influence of the media in driving transaction decisions. Whether offering suggestions, choosing the service provider based on photos/videos, or learning more about the different roofing options they have, the content informs and provides transparency, which puts the power in the hands of the consumer,” said Jery Althaf, co-founder of Kolo. .

“House is a one-time purchase for the majority of Indians who invest a significant portion of their wealth with a lot of passion in building their house. However, in most cases it is a painful experience that is not transparent. and that depends on face-to-face interactions and manual processes.We aim to disrupt the space using technology, creating content-based mobile solutions to democratize information and creating a one-stop solution for owners , service professionals and building material suppliers,” added Vivek Mittal, co-founder of Kolo.

“Kolo took a customer-focused approach in India’s massive home construction market and demonstrated tremendous traction in a short time. We invested at the idea stage and were impressed with the quality of execution of the Kolo team and doubled down with a big check in this well-deserved seed round,” said Vaibhav Domkundwar of Better Capital, an early backer of breakout ventures like Slice, Open. , Rupeek, Teachmint, Khatabook and others.

The company has grown ten times since the last fundraising. What started in Kerala has now spread to Delhi, Madhya Pradesh and Rajasthan.

“We believe that renovating a home is a long process and that consumers want to play an active role in decision-making. While on the other side, service providers have struggled to pitch their work to future owners. Kolo solves this problem with its content-to-commerce model. The needs of the market coupled with the vision and execution of the founders enabled us to invest in Kolo,” said Madhur Makkar of RTP Global.