Nexus Venture Partners has led a $12 million funding round for HomeRun, a Bengaluru startup revolutionising India’s construction materials market with quick-delivery micro-warehouses, aiming to digitise a $29.4 billion industry and potentially double its size by 2035.
Nexus Venture Partners has placed a fresh institutional wager on a corner of India’s construction economy that has long been left to informal dealers and ad hoc pricing. According to reporting on HomeRun’s latest financing, the Bengaluru startup has raised $12 million in a Series A+ round led by Nexus, valuing the company at about ₹450 crore to ₹500 crore. The round lifts disclosed funding to $19.6 million since HomeRun was founded in 2024 and included participation from returning backers Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective by Atrium.
HomeRun is trying to do for building materials what quick commerce has already done for groceries: compress supply into a dense network of dark stores and deliver within an hour. The company says it serves contractors and homeowners in Bengaluru through micro-warehouses stocked with branded cement, tiles, paints, waterproofing products, wires, plywood, hardware and appliances. It also says it has crossed 100,000 orders and grown eight-fold over the past 12 months, although those figures have not been independently verified.
The appeal of the model lies in the problem it is trying to solve. India’s construction materials retail market has been estimated at $29.4 billion in 2025 and is forecast to more than double to $61 billion by 2035, yet procurement still depends heavily on local dealers, cash deals and unclear pricing. Nexus partner Anand Datta said in the firm’s announcement that building materials is a supply chain that has largely avoided digitisation, while describing founder Pukhraj Grewal as someone who understood the pain points of small contractors from first-hand experience.
Grewal’s background is central to the pitch. He studied metallurgical and materials engineering at the Indian Institute of Technology, Roorkee and has spent more than a decade in the construction sector. Before HomeRun, he co-founded Project Hero, a labour-hiring platform for construction workers that later shut down, and also worked on an interior contracting venture. Backers have pointed to that operational experience as part of the reason they continued to support him after earlier rounds.
The economics are different from grocery quick commerce, which is why investors are watching the category closely. Construction orders are larger and more episodic, often tied to project milestones such as electrical work, tiling or painting. That means a dark store does not need the same volume of daily transactions as a grocery outlet to have a chance of breaking even. HomeRun has also pitched itself as a business that does not rely on contractor credit, which has been a pressure point for several other commerce models.
Competition is arriving quickly. Fixxly, a Bengaluru rival founded by Shezan Bhojani and Sachith Varma, raised $5.5 million in seed funding from Accel, Fireside Ventures and Lightspeed India Partners and plans to launch on September 1. HomeRun now has an earlier start, a larger war chest and Nexus’ backing, but the race to prove that construction materials can support quick commerce is only just beginning.
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