Exclusive: Mad Over Buildings To Raise ₹30 Cr To Enter New Cities

Bengaluru-based construction and interior materials marketplace Mad Over Buildings (MOB) has signed a term sheet to raise ₹30 Cr (about $3.5 Mn) in a round led by an institutional investor, founder Kumar Vivek said without disclosing the name of the investor.

The round, which will give the startup a post-money valuation of ₹180 Cr (about $18.7 Mn), will also see participation from existing investors. 

MOB, which counts building materials major Hindware among its strategic backers, plans to deploy the fresh capital towards geographic expansion, technology enhancement, and strengthening its credit-led procurement ecosystem. 

Founded by Vivek in 2021, MOB operates in the construction materials and interior products segment, offering architects, contractors, and developers a platform to procure products with faster deliveries and access embedded financing.

While the startup provided same-day delivery for online and app-based orders, it offered “just-in-time” delivery for large orders. Earlier this year, it moved to 1-4 hour deliveries for online and app-based orders.

MOB is currently operational in Bengaluru and plans to enter Mumbai following the fundraise. It plans to enter more than 12 cities over the next six to nine months. 

Unlike several emerging players attempting to replicate the grocery quick commerce model in the construction space, MOB claims its business is built around two key differentiators: embedded credit and an asset-light fulfilment network.

MOB offers an embedded line of credit for architects and contractors at the point of purchase, with financing underwritten by Muthoot Finance. Given that procurement in the construction ecosystem is often credit-driven, the startup integrates financing directly into the buying process rather than relying on traditional dealer-led credit arrangements.

Its second differentiator is what it calls a “shadow-hub” model. Instead of investing in dark stores and warehousing infrastructure, MOB uses existing warehouses of brands as fulfilment nodes. This allows it to fulfil orders without significant capital expenditure while enabling faster entry into new markets.

“The construction supply chain is fragmented, credit-starved and slow. MOB collapses procurement, delivery and financing into one rail without the dark-store cost structure that makes this category hard to scale,” founder Vivek said.

MOB currently serves more than 750 active clients, including architects, contractors, and project owners. It operates in India’s building-products market which is estimated to reach a size of about $150 Bn by 2028 from $90 Bn currently. 

MOB reported a revenue of ₹8 Cr in FY26 and currently claims to have an annual recurring revenue (ARR) of ₹24 Cr. 

The funding round comes at a time when emerging startups are moving their focus beyond categories like beauty, electronics and home services to disrupt high-value and fragmented segments like construction materials through the quick commerce route.

These startups are also seeing a lot of interest from investors. For instance, Inc42 exclusively reported earlier this year that HomeRun is in talks to raise $10 Mn from Nexus Venture Partners.

The post Exclusive: Mad Over Buildings To Raise ₹30 Cr To Enter New Cities appeared first on Inc42 Media.