KOCHI:  With an aim to help builders accelerate their projects and complete them earlier, save cost and provide much superior quality to end consumers, Bengaluru-based proptech startup FalconBrick is offering India’s first-of-its-kind end-to-end, mobile-based construction management solution for real estate builders.Incepted in 2016, FalconBrick was co-founded by three young entrepreneurs- Gautam Mayur, Aditya Shankar and Sashi Kiran. Its mobile app helps builders accelerate their projects and complete them up to 20 per cent earlier, saving costs by up to 15 per cent.

FalconBrick’s mobile app addresses every stage of a project life-cycle – right from excavation to hand over to customers as well as post possession and facilities management, thus reducing the risks of delays and inadvertent incidents.

“Construction and real estate in India is a large and $150 billion industry. It is set to grow seven times by 2028. But unfortunately, this industry is plagued by huge issues like project delays and cost overruns. In fact, a study says that in just the last four to five years, only 15 per cent of projects were handed over on time. It is this burning issue which FalconBrick aims to address by digitising entire construction operations in a way that it helps accelerate projects and enables much earlier handover to customers,” opine the co-founders.

At a time when the real estate industry is witnessing change and gearing up to comply with RERA (Real estate regulatory act), FalconBrick's solution is helping builders by reducing delays, improving efficiency and bringing in transparency and accountability. The solution has two primary components - a workflow solution on an easy-to-use mobile app for site staff and a powerful package of real-time data analytics and LIVE dashboards for senior management.

“The mobile app is completely customisable and brings all stakeholders - site execution, quality, planning, CRM & senior management, as well as third parties such as contractors & architects onto a single platform. Using this, the entire project can be monitored on a mobile device, right from start till handover to the customer.

The firm quickly grown to multiple cities with approximately 100 projects across Bengaluru, Mumbai, Pune, Delhi-NCR, Kolkata and Hyderabad.Their customers include leading builders such as L&T, JLL, Oberoi Realty, Brigade Group, Embassy Group and many among  others. Revealing the USP’s of their solution the co-founders say, "Our app is extremely easy to use for all levels of site operations. It is flexible, keeping in mind working conditions at construction sites. Thus it provides significant benefits to everyone within a builder - from the site engineer right up to the CEO"

FalconBrick raised their first round of funding (angel + seed) in early 2017, a total of $55,0000. The investment was led by Singapore Angel Network and Dreamweaver Industry and Business Solutions (DIBS), Angel investors belonging to leading real estate family offices (Salarpuria Group, Primarc Group, Rohan Builders) and an international Japanese VC – Beenext Ventures. Other angel investors through Mumbai Angels and Letsventure platforms also participated in the round.

Speaking about the challenges they faced while establishing the start-up the co-founders said, “Since construction projects run for long durations, one of our primary challenges was to prove the value of our solution in a relatively short period of a few months, compared to the full life-cycle of the entire project which would typically take years"

FalconBrick works on a SaaS (Software as a Service) model. The charges are subscription/license based – hence, the builders bear no upfront cost.“Builders pay on a per sqft basis, or per project based, depending on the project stage. Thus builders can start small, test the solution and then scale up usage to multiple projects. This makes the revenue model very builder-friendly,” says a co-founder sharing the revenue model of their start-up.

FalconBrick is currently targeting residential, commercial retail and hospitality projects in tier one cities.“We are looking at growing aggressively, not only in tier-one but also in tier two and three cities where the problems faced by builders are different. We aim to go live at approximately 1000 builders across India, and also tap international markets,” said the co-founders on their future plans.

In a nutshell
FalconBrick is a Bengaluru based proptech startup
It was co-founded by Gautam Mayur, Aditya Shankar and Sashi Kiran in 2016
They offer India’s first-of-its-kind end-to-end, mobile-based construction management solution
Their solution has been adopted by leading builders across six cities in India
They raised their first round of funding (angel + seed) in early 2017, a total of $550k
They work on software as a service model. The charges are subscription or license based