On Thursday, a Pune-based contract digitization firm, Renewate Infrastructure Technologies Pvt. Ltd., or ReNEWate (1), has secured 272,000 USD, about two crore INR, from Better Capital. The deep tech startup would use the fresh fundings to expand its product offerings, expedite growth, and develop its technology offerings to simplify and enhance the end-to-end workflow for property improvement professionals.
Husband and wife duo, Debashree Ghatak and Supratik Ghatak, founded ReNEWate to help millions of renovation contractors, agencies, and property improvement professionals to manage their business digitally.
While commenting on the latest development, Vaibhav Domkundwar from Better Capital stated that millions of property improvement contractors and professionals are still using obsolete and unproductive practices to run their business. Consequently, they lose time as well as money.
ReNEWate fills the much-needed gap in this multi-billion industry by digitizing contractors with a mobile-first vernacular-first app that offers simple but robust tools that enable working smarter, added Vaibhav.
ReNEWate to Build its Vision to Save Time and Improve Cash Flow for Real-estate Professionals
Notably, Better Capital is an early investor in several SME digitization innovates, including Khatabook, BharatAgri, Save, Teaching, and others. ReNEWate offers a simple tool to real estate professionals to rapidly convert their clients’ requests into confirmed projects. Moreover, these tools also help the industry to manage their leads and accept digital payments efficiently.
Since the platform’s operation is highly organized, the ReNEWate app helps contractors save time, grow their business, and improve cash flow. In a statement, Debashree Ghatak and Supratik Ghatak, the founders of the deep tech startup, said they want to remove the joint pain faced by contractors and professionals.
Several platforms’ contractors are at the base of the pyramid when it comes to education and literacy. Now, it is up to the chain when it comes to offering high-value skill sets. The duo also added that they have found an instant alignment with Better Capital and are glad to have them on board to build-out our vision.
The deep tech startup has previously received a grant from the Department of Science and Technology, Government of India, for becoming the top Smart 50 startups. It is worth noting that ReNEWate also a part of Asia’s first prop-tech accelerator program, Brigade REAP.