Construction solution startup Nirmaan closes seed funding round led by Equanimity Investments

Nirmaan, a B2B managed marketplace focused on the construction materials sector, has closed its seed funding round led by Equanimity Investments. The company will use the capital to fuel its technological infrastructure, expand to new regions, and diversify its product categories.

The Kolkata-based firm aims to transform the fragmented construction materials market by leveraging technology to connect manufacturers with retailers. Launched initially by offering sanitaryware, the startup has already served more than 1,000 unique retailers within an 80-km radius of the city.

Targeting suburban metros and Tier-II/III towns in the country, Nirmaan addresses significant distribution gaps in these regions.

Rajesh, Managing Partner at Equanimity, stated, “Mayank and Manish bring decades of extensive expertise in supply chain management and possess a profound understanding of the challenges encountered by manufacturers and retailers. The construction materials industry remains highly fragmented, with national players capturing less than 50% of the market, and regional brands having an even more limited presence. We are delighted to collaborate with them as they expand their product portfolio and extend their presence across diverse geographies.”

Some of the key challenges in the sector include manufacturers facing an opaque value chain, limited market reach, and inefficient communication with retailers. Conversely, retailers struggle with brand and product discovery, frequent order fulfilment failures, and delays in delivery timelines. These challenges often lead to excessive inventory stocking, which ties up critical working capital.

Founded by Mayank Bhawsinghka in 2023 and later joined by Manish Maheshwari, the platform helps manufacturers increase market reach and build brand visibility. For retailers, the solution includes a unified platform for faster discovery and procurement, enabling smaller and more frequent restocking. Through a mobile app, retailers can reduce minimum order quantities, free up working capital, and streamline their product discovery processes.