News Reader.info

The e-commerce start-up started its operations a few months ago and it aims to tap huge opportunity in the unorganised construction materials market. Realty firm Omaxe's promoter and

CEO Mohit Goel has started an e-commerce portal, Supplified.com, in his personal capacity to market construction materials and will invest $1 million (nearly Rs 6.72 crore) as seed funding.

Supplified.com, founded by Goel along with SPR Buildtech Director Nalin Saluja, started its operations a few months ago aiming to tap huge opportunity in the unorganised construction

materials market. On this portal, it sells the raw material as well as finished goods ranging from cement, steel, doors, paints, water purifiers, tiles, building cleaning and maintenance

supplies, plants and home decor, among others. Supplified is currently catering to the Delhi-NCR market and has achieved a monthly sale of Rs 50 lakh last month. "We have been operating

in Delhi-NCR markets for the last few months and the initial response that we have received is very encouraging. Hence, we are now entering two new cities -- Chandigarh and Ludhiana,"

Goel said, adding that these cities are good markets from the realty and construction point of view. The online marketplace registered sales of Rs 5 lakh in November, Rs 11 lakh in December,

Rs 22 lakh in January and Rs 50 lakh in February, Goel said. "We are looking to expand to 10 cities and achieve total sales of Rs 10 crore per month within next six months," he

added. Asked about the investment in this venture, Goel said, "founders are bootstrapping this start-up with their own fund of one million dollars". He added that there is a huge

opportunity in this business as the total size of the construction industry is worth $150 billion (nearly Rs 10.08 lakh crore) annually. Supplified.com aims to solve complete procurement

problems of both retail buyers as well as small and medium-sized enterprise (SME) contractors and builders. Besides Supplified, there are some other players in the segment. In January this

year, home construction and renovation marketplace Buildzar.com has raised $4 million (about Rs 26.9 crore) from Dalmia Cement Bharat MD Puneet Dalmia in pre-Series A funding.