JSW One Buys Pidilite Ventures-Backed Proptech Startup BuildNext

JSW Group’s B2B ecommerce marketplace JSW One Platforms, announced the acquisition of proptech startup BuildNext. The move will help the company strengthen its home construction wing — JSW One Homes — presence in the evolving Indian home construction and renovation ecosystem. 

With the buyout, JSW One aims to enhance its ability with addition of deeper design and execution capabilities to serve home builders, contractors, architects, and homeowners. Also, it will help BuildNext to scale via its wider market access.

Founded in 2020, JSW One Platforms is a B2B tech-enabled marketplace for construction and manufacturing MSMEs. Its offerings range from procurement and credit to fulfillment and private brands.

It also operates JSW One Homes, which connects clients with professionals and contractors to handle the entire journey from buying a plot to building a home. 

“The addition of BuildNext strengthens this vision meaningfully, enabling us to deliver a more predictable and organised home-building experience at scale. With this investment, we also welcome Pidilite to the cap table of JSW One and are excited to partner with them in building JSW One,” JSW One joint MD and CEO Gaurav Sachdeva said.

BuildNext’s investor Pidilite Ventures will transfer its entire holding in the startup to JSW One via a share-swap arrangement at a “mutually agreed valuation”. The share swap is expected to complete by August 10

Besides, Pidilite Ventures’ board approved an additional investment in BuildNext of ₹22 Cr by subscribing to CCPS of BuildNext. With this, Pidilite Ventures will hold majority shareholding in BuildNext on a fully diluted basis. 

Pidilite joined the proptech startup’s cap table when it injected $3.5 Mn in the startup under its Pre-Series A funding  via its subsidiary Madhumala Ventures.

Founded in 2015 by Gopikrishnan V and Finaz Naha, the Kochi-based startup offers tech-enabled home construction and interior designing services to customers. It runs a virtual reality-enabled chain of experience centers. 

As of FY25, BuildNext registered a 33% YoY jump in its annual turnover to ₹18.38 Cr. Its profit after tax (PAT) for the year under review stood at ₹9.11 Cr.

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