BuildNext

About BuildNext

BuildNext operates as a technology-enabled construction company, aiming to address inefficiencies and a lack of transparency in the residential building sector. Founded in 2015 by Gopikrishnan V and Finaz Naha, alumni of IIM Bangalore, the company leverages the founders' combined expertise in architecture, computer science, and business management. Gopikrishnan holds a degree in architecture from IIT Kharagpur, while Finaz is a computer science engineering graduate from NIT Calicut. Their shared vision was to create a platform that would professionalize and simplify the home construction process, a traditionally unorganized industry.

The company's business model is centered on providing end-to-end design and build services for customized homes, targeting single or multi-family residential projects starting from 1,500 sq. ft. BuildNext serves individual customers looking to build a home, functioning as a single point of contact throughout the project lifecycle, from design and material procurement to final handover. Revenue is generated through this turnkey service package, which includes design fees and a commission on the overall construction transaction. The firm operates through a network of Virtual Reality-enabled experience centers across several cities in India, including locations in Kerala, Hyderabad, Bangalore, and Coimbatore, where clients can visualize and customize their homes before construction begins.

The core of BuildNext's service is its proprietary technology platform, which integrates various tools to manage the entire construction process. A key feature is the use of Virtual Reality (VR), allowing clients to take a virtual walkthrough of their future home, make real-time design modifications, and select materials. The company has a patent for linking real-time material prices to the VR experience, enabling customers to make informed decisions while controlling their budget. Additionally, a custom-built mobile application allows clients to track project progress, including daily activity summaries and quality checks, ensuring transparency. BuildNext has established a system of over 1000 quality checks to maintain standards and offers a price protection guarantee.

Since its inception, BuildNext has secured approximately $5.49 million in funding over seven rounds, with notable investors including Pidilite Industries and Konglo Ventures. This capital has been utilized to expand its R&D capabilities, enhance its VR experience centers, and fuel geographical expansion into new markets like Bengaluru, Chennai, and Coimbatore. The company started delivering branded home-building solutions in Kerala and Hyderabad in November 2019 and aims to deliver over 10,000 homes annually in the coming years. It operates a hub-and-spoke model, with plans to establish experience centers in all major towns across India.