Quality Ready Mix Concrete & Easy Procurement, get it all with BuildBuy!
India is a powerful ecommerce market and a country with advanced digital technology.The market for online shopping is growing at a remarkable rate. Most of the Indian consumers have shown their interest for online purchasing in the last year, and India has been on the top for making e-commerce purchases in Asia. In the coming months, the market potential for Indian e-commerce is expected to improve dramatically. The most common purchase made online are for electronics and digital media things, however India is becoming smarter and thinks beyond the traditional shopping items through an online portal. Concrete is the most used man made resource on the planet so now another sector ‘Construction Material’ is taking place strongly via e-commerce selling process.
BuildBuy is a leading online supplier of construction material in Bangalore. An innovator whose primarily focus is providing Ready Mix Concrete; the company challenges traditional channels in the distribution of building materials, providing the convenience of technology based quality tracking and online retail with comprehensive product knowledge. Leveraging technology, they are the first e-commerce firm which focuses on technology assisted quality management which makes sure their customers get the best products. Started in August 2016, they are actively doing business with a 100% reach in Bangalore and briefly started its operations also in Hyderabad and Mysore. They say being online is just one advantage out of many and the mainbenefit remains to be the control over quality, which is achieved by their patent pending process.
Concrete being the most used construction material and makes the skeleton of any structure; it has to be properly taken care of in terms of both technicality and commercials. Concrete is a material which has a shelf life of around just 4hrs which makes the material very complicated to manufacture, monitor and execute. Hence this process of concreting is a tedious task and it needs able resources to monitor and make sure the material is fool proof. Absence of technology in this process makes it very difficult to manage the process and BuildBuy comes here to fill in the gap. They use their technology driven patent pending process to make the procurement process very transparent and ensure the product of right quality is being delivered. Apart from concrete Buildbuy also has other core construction material like blocks, aggregates, cement, etc.
The CEO Magazine, in a conversation with Co-founders and Directors Shanti Kiran Potluri, RakeshChidara and BhargavaKashyap
Who is the company’s ideal customer and how does the company currently approach them?
We are a B2B company and slowly trying to expand to B2C. BuildBuy operates in construction domain and can render services to any company which can buy Concrete or any other core construction material. We help builders, contractors and project management consultants procure genuine material irrespective of their size. Currently we are going on a referral basis have successfully operated for 18months. The traction has been pretty good and even the customer retention rate is high. Looking at the market acceptance and future potential, we are planning to soon expand to other cities in India and make this a national level business.
How did the company get to where it is today?
BuildBuy is an idea which is evolved out of market requirement. Construction industry is the least digitized industry after agriculture and now it is time to automate things and make the process easy and standardized. Looking at the degree of the problem and scope of things we can innovate by technology and IoT, we have ventured into this startup with huge aspirations.
Where do you want to company to be in the next few years?
We are aiming to be a national level business in very less time. Looking at the humongous volumes of construction in our country in coming decade, it is both inspiring and ambitious to serve a national wide requirement. We are aiming to take a lot more buyers and suppliers on-board and stimulate a transparent and quality driven work environment. Also we are proud to be a part of a digital India movement and address an unsolved problem of a giant industry.
What drives you to have this vision? Why are you passionate about this?
We are a group of 3 construction industry aspirants who used to work part time in our post-graduation college National Institute of Construction Management and Research. We Bhargava Kashyap, Rakesh Chidara and Shanti Kiran have been working on ERPs and construction digitization for pocket money while studying our daily subjects in Pune and we have gained an in-depth understanding on construction processes. Being millennial generation and looking at the IT boom very closely, we were unhappy about the technological standards in construction industry and were giving our best to improve it. So we have joined world class organizations and tried to implement all our learning there but realized our country is lacking the technology and implementation to digitize things in construction. Hence we quit our jobs and decided to this by ourselves.
We formed alliance with our friends Rajiv Seelam (IIT Kharagpur) and Manasa Madapu (MITCOM Pune) who supported in IT development and operations. Their expertise in product architecture, development and maintenance made us aim high and address a wide market. Moreover their interest and proactive attitude to solve industry problems made us more confident in driving this successfully.
We are fortunate to meet our Promoters Mr. Sridhar Reddy Talamati and Mr. Peruma Surendranath Reddy who really believed in this idea. We were surprised to see their interest in bettering the industry and they really supported us in making this idea a reality.
Our combined expertise and experience, clubbed with the market acceptance of this idea is giving us more drive to take this to next level and aim at bigger regions. The very idea of solving an age old unaddressed industry problem sounds exiting and makes us more passionate in what we are doing.
What are the greatest obstacles for the company?
Being a disruptive idea, we have initially faced challenges in terms of product development. We had to make sure the product is simple enough yet intuitive to address the problems of an unorganized industry. We had to spend many days and nights developing, testing and perfecting the process. The concept of developing a pricing engine took a deep market understanding more than just product expertise. We had to invest time and efforts to protect our buyer interests and the same time do justice to suppliers.
Next part is initial short hiccup of making people understand the technology and benefits associated with it. We have to make several presentations, explainer videos and demos to give an in-depth understanding of the product and the implementation. But we were surprised to see the positive response from the market after the experience of the first order. We are having full customer retention and very good testimonials from our buyers and suppliers.
What are the milestones of the company till the date?
It’s been only 18 months since BuildBuy got started and we are very elated to see the level of acceptance. We have started with Ready-Mix-Concrete and in very few months after looking at the response from the buyers and gaining the momentum, we have started to deal other core construction material.
We have shortly ventured into other cities namely Mysore and Hyderabad. Looking at the projections, we are planning to venture more. We can proudly state that we have designed our process in a way that scaling up is so easy and takes minimal efforts.
We are working in parallel in new technologies development in terms of IoT software and hardware. We want to be established as a brand to look for technology based construction e-commerce in India.
Please share if any awards or recognition?
Thanks to national and state government’s schemes and policies to encourage tech based startups. We have been recognized by ‘Department of Industrial Policy & Promotion’ as a part of National Level “Startup India” movement. Also we recently got recognized by ‘Government of Karnataka’ in “Karnataka Startup Cell”. We are aiming to venture into other status and get equal recognitions in near future.
We are honored to receive the ‘Startup of the Year 2017’ award from Silicon India Magazine.