Bengaluru-based construction and interior materials marketplace Mad Over Buildings (MOB) has signed a term sheet to raise ₹30 crore (about $3.5 million) in a funding round led by an institutional investor, founder Kumar Vivek said. The round will value the startup at a post-money valuation of ₹180 crore (about $18.7 million) and includes participation from existing investor SIG Tattva, according to inc42.com.
Founded in 2021, MOB operates a platform that enables architects, contractors, and developers to procure construction and interior products with faster deliveries and embedded financing. The startup offers same-day delivery for online and app-based orders, recently reducing delivery times to 1-4 hours. It also provides just-in-time delivery for large orders. The fresh capital will be used to expand geographically, enhance technology, and strengthen its credit-led procurement ecosystem, the founder said.
MOB’s business model differentiates itself from other quick commerce players in the construction segment by focusing on embedded credit and an asset-light fulfillment network. The startup counts building materials major Hindware among its strategic backers. Currently operational in Bengaluru, MOB plans to enter Mumbai following the fundraise and aims to expand to more than 12 cities over the next six to nine months, according to inc42.com.
The company’s next step is to deploy the ₹30 crore funding to support its geographic expansion and technology upgrades. MOB’s post-money valuation of ₹180 crore reflects investor confidence as it prepares for rapid growth in India’s construction materials market.