Quick commerce startup Homerun raises $12M in Series A+
The round is led by Nexus Venture Partners with participation from existing investors Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective by Atrium.
HomeRun, a quick commerce platform for construction and interior materials, has raised $12 million in a Series A+ round of funding led by Nexus Venture Partners with participation from existing investors Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective by Atrium.
The startup will use the capital to expand geographies and to further invest in supply chain, technology and category expansion initiatives. The startup had raised $6.6 million earlier this year.
HomeRun says it delivers construction and interior materials to contractors and homeowners at competitive prices, within 60 minutes. The platform focuses on high-frequency categories including wires, plywood, cement, hardware and paints.
The startup claims that it has completed 100,000 orders and has grown 8-times in the last one year.
Founded by Pukhraj Grewal, HomeRun aims to address the long-standing pain points around unreliable supply, opaque pricing, last-minute shortages and labour downtime.
"Building material procurement in India has remained fragmented and inefficient for far too long. At HomeRun, we're making it as reliable, transparent and fast as any modern commerce experience. The strong customer response reinforces the scale of this opportunity,” said Grewal.
Previously, Pukhraj co-founded Tornado, a tech enabled interior contracting startup and Project Hero, a construction labour-hiring platform.
"Our quick commerce thesis centers on formalising supply chains while preserving the proximity advantage of small-format local merchants. Building materials and local hardware is one such supply chain that has largely skipped digitization. The company is growing rapidly without offering credit and with great unit economics," said Anand Datta, Partner, Nexus Venture Partners.