Realtech B2B Startup Nirmaan Closes Seed Funding Round Led by Equanimity Investments

-Nirmaan’s technology platform works towards addressing the pain points that the manufacturers, retailers and the ecosystem stakeholder face in the real estate space.

-Founded in 2023, by Mayank, Nirmaan aims to transform the fragmented construction materials industry by leveraging technology to bridge the gap between manufacturers and retailers.

-The startup said it has observed manufacturers face an opaque value chain, limited market reach, and inefficient communication with retailers.

Nirmaan, a B2B managed marketplace specializing in the construction materials industry, has closed its seed funding round, led by Equanimity Investments. The startup plans to leverage the fresh capital to enhance its technological capabilities, expand into new geographies, and diversify product categories.

Founded in 2023, by Mayank, Nirmaan aims to transform the fragmented construction materials industry by leveraging technology to bridge the gap between manufacturers and retailers.

Mayank, an MBA graduate from IIFT Delhi, brings a wealth of experience in scaling B2B e-commerce startups such as Udaan and Buildistan. With over a decade-long career, he has worked with major corporations like Idea Cellular and Lava in business development roles before transitioning to startups, where he built his expertise in the B2B sector.

Manish, on the other hand, joined Mayank in 2024 to build Nirmaan with similar vision. He is an alumnus of NIT Trichy and MDI Gurgaon. He brings over 11 years of experience with ITC, where he held various roles, including serving as the GTM Strategy Lead for all categories nationally. Before joining Nirmaan, he led the pharma category at Udaan, where he spent over four years.

The Kolkata-based startup debuted with sanitaryware as its first product category and has served over 1,000 unique retailers within an 80-km radius of the city.

According to the startup, Nirmaan primarily focuses on retailers in suburban metros and Tier-II, III towns—often referred to as ‘Bharat’—where distribution gaps are significant.

The startup said it has observed manufacturers face an opaque value chain, limited market reach, and inefficient communication with retailers. Conversely, retailers struggle with brand and product discovery, frequent order fulfilment failures, and delays in delivery timelines.

These challenges often lead to excessive inventory stocking, which ties up critical working capital, added the startup.

Nirmaan’s technology platform works towards addressing these pain points. Manufacturers can use the platform to expand their market reach and enhance brand visibility. For retailers, Nirmaan offers a one-stop solution for discovery and procurement, enabling faster deliveries, reduced minimum order values, and more frequent restocking. This not only alleviates working capital constraints but also simplifies product discovery through an intuitive mobile app.

Commenting on the fundraise, Rajesh, managing partner at Equanimity, said, “Mayank and Manish bring decades of extensive expertise in supply chain management and possess a profound understanding of the challenges encountered by manufacturers and retailers. The construction materials industry remains highly fragmented, with national players capturing less than 50% of the market, and regional brands having an even more limited presence. We are delighted to collaborate with them as they expand their product portfolio and extend their presence across diverse geographies.”