Bangalore based BuildTraders, a building materials trading company, has acquired Pune based property management start-up
Cozilla in an all-stock deal.
Founded in October 2015 by Yogesh Pawde, Aditya Joshi, Shubham Choudhary and Ranjeet Gakhare, IIT Bombay & IIT Ropar alumni, Cozilla provides rental property management solutions to owners and tenants though its technology enabled platform. The startup was bootstrapped till date.
Founded in April 2016 by Ranjeet Gakhare and Ashwin Srivastava, BuildTraders provides selected building materials to builders and builder-owners. It is currently functional offline and is in the process of an online expansion in form of an e-commerce and e-guide platform.
Yogesh Pawde, founder and CEO of Cozilla, shall join the board of BuildTraders as its new CEO as part of the process of acquisition. He said that Cozilla has achieved 100% MoM growth over a period of last 6 months, but it will stop its operations in India now to focus on BuildTraders and has plans to expand internationally in near future.
Ranjeet Gakhare, co-founder of BuildTraders adds, “I was a part of Cozilla earlier and later helped create BuildTraders as this is a heavily unorganized market with lack of curated and quality products and improper understanding of the mode of procurement of such materials. There are a few companies in the domain, but they are solving the problem very differently from what we have in our plans. With the acquisition of Cozilla, BuildTraders has gained a strong team that was already working in the real estate segment and we have a new CEO in Yogesh.”
According to PwC report, Indian construction industry is the 2nd largest contributing industry to India’s GDP. Construction material supplier business is largely unorganized. BuildTraders aims to make the process of building homes hassle free for both individuals and builders by providing one stop solution for curated construction materials procurement.
