Bangalore-based Youkraft has secured a commitment of $10 million in Seed funding from the Goel Family Office including Manav Goel (Founder and CEO of Youkraft). The recently launched app will be an online marketplace exclusively catering to the construction and interiors industry.
Founded by Manav Goel to solve the on-ground challenges contractors face and to digitize the interiors market with technology to facilitate ease of transaction, Goel is currently transitioning from his role as the Managing Director of Woodkraft.
“We are delighted to have secured the funds we need to support Youkraft during this crucial early stage of our growth,” said Manav Goel. “We seek to bridge the gaps in India’s interior and construction industry by providing a unified technology platform where homeowners, interior designers and contractors can easily obtain the best products at the best prices delivered to their doorstep.”
The idea behind Youkraft was conceived in 2021 to address the key logistical and transparency issues plaguing the interiors and construction industry. It was designed as a single unified platform that would connect homeowners, contractors, designers, architects, technicians, and other stakeholders in the industry. The technology was designed and developed in-house in just four months and relies on an advanced AI/ML algorithm that matches customers to the most appropriate product recommendations.
The platform eliminates hassles of sourcing, procurement and delivery, thus enabling the contractors to focus on their core expertise and grow their business.
The Youkraft app will be released in Bangalore first, and Goel is optimistic that their go-to-market speed will help them become a pan-India brand by end 2022/ early 2023. “We also plan to support our online platform with flagship omnichannel stores in the near future,” said Goel.