Bengaluru-based e-commerce construction platform Brick&Bolt witnessed a revenue of Rs 23.6 crore in FY23, a 66% growth in scale as compared to the preceding year. Subsequently, its revenue from operations grew 1.7X from the previous Rs 13.8 crore to FY23’s Rs 23.3 crore.
Established in 2017 by Jayesh Rajpurohit and Arpit Rajpurohit, Brick&Bolt is an e-commerce platform that uses technology and state-of-the-art systems to simplify the process of make home and commercial construction. It enables users to hire professionals for turnkey house/commercial construction, compound wall construction, carpentry and woodwork, and kitchen renovation among others.
The company’s expenses for the fiscal year ending March 2023 spiked about 72% to Rs 51.5 crore. Employee benefits, material costs, and advertisements and promotional costs were the top three expenses for the company, mimicking FY22’s expense breakdown. The e-commerce company spent over Rs 20 crore, close to Rs 8 crore, and over Rs 7 crore, respectively, on the three segments in FY23.
Its losses ballooned 2.9X to Rs 34.1 crore with the EBITDA margin standing at a negative 112.63% and the ROCE standing at 91.94%.
Brick&Bolt has raised a total of Rs 113,9 crore over 5 funding rounds. Its latest round was held on January 2023 and saw the likes of Accel and Celesta Capital as the lead investors. It previous raised over Rs 5 crore from HDFC Capital.
Post its latest fund infusion, the company’s founders Jayesh Rajpurohit and Arpit Rajpurohit hold over 40% and 25% of the company shares while investor Sequioa has control over more than 17% of the company.
It currently competes against the likes of Ofbusiness, Infra.market, and Buildnext.