Zerund Raises INR 7.8 Cr in Seed Capital
- A member of the Gruhas ASPIRE accelerator program, Zerund will use the funding
to grow nationally –
Guwahati, India, September 07, 2022: Zerund, a Guwahati-based manufacturer of sustainable
bricks has received INR 7.8 Cr (USD 1 million) seed funding from a set of strategic private investors
including Dreamweaver Investments. The investment was facilitated via the Gruhas ASPIRE
the accelerator program, a joint initiative of Gruhas Proptech Fund, The DLF Family office, and Anthill
Ventures.
Dr. Himanta Biswa Sarma, Chief Minister of Assam, and Gruhas Proptech Fund promoters, Abhijeet
Pai from the Puzzolana Group, Nikhil Kamath, Co-founder of Zerodha, and Rahul Talwar, Director,
DLF Family Office felicitated the Gruhas ASPIRE cohort at a ceremony held today at NEDFi (North
Eastern Development Finance Corporation Ltd) Convention Centre in Guwahati.
Started in 2018 by civil engineering classmates David Gogoi, Mousum Talukdar, and Rupam
Choudhury from Assam Engineering College, Zerund has brick manufacturing plants in Guwahati and
Pathsala in Assam. The company manufactures high-grade, lightweight bricks which utilize 70%
waste material, including plastic and fly ash. The fly ash is sourced from the National Thermal Plant
Corporation (NTPC) unit at Kokrajhar, Assam.
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The company will use the new funding to increase its annual production capacity, which stands at
more than 25 lakh bricks and expand its sales and distribution network beyond Assam to other
Indian states in the coming months.
“We are on track to boost our annual production ninefold to 2.3 crore bricks in 2026, in line with the
expanding demand for sustainable bricks,” said David Gogoi, Co-Founder & CEO of Zerund. “Our
investors in this round comprise experts with an in-depth knowledge of the Proptech (Property-
Technology) space. Their support will be critical as we grow beyond our base in Assam and take our
homegrown idea to the rest of India and beyond.”
India’s estimated annual demand for construction blocks by green-rated developers is INR 10,000 Cr.
India also generates 270 million tons of fly ash annually and 15000 tons of waste plastic daily,
highlighting the potential for eco-friendly solutions to combat carbon emissions.
“The construction industry in India is growing at a CAGR of 15.7% and needs grassroots innovation to
prepare for a future that places sustainability front and center of all activity,” said Abhijeet Pai, Co-
Founder of Gruhas Proptech Fund. “Bricks are the fundamental building blocks in construction, and
innovations such as Zerund’s product lie at the heart of Gruhas Proptech’s focus on decarbonizing
construction and real estate. We will work closely with the Zerund team as they scale their business
to meet the increased emphasis on sustainability to future-proof the construction industry”.
Over the last four years, Zerund’s bricks, which are 15% cheaper and 45% lighter than the industry
standard, have been used in homes, commercial spaces, and institutions such as the Assam Don
Bosco University, Cotton University, and the Numaligarh Refinery. L&T and Shapoorji Pallonji utilize
Zerund bricks in their real estate developments.
In 2021, Zerund raised Rs 4 crore from investors, including NEDFi Venture Capital Ltd. (NVCL) and
Villgro Foundation.
Zerund is one of the seven start-ups belonging to the Gruhas ASPIRE accelerator program. A
partnership between Gruhas Proptech Fund, DLF Family Office, and Anthill Ventures, Gruhas ASPIRE
(Accelerating Sustainable Proptech in Real Estate) chooses high-potential start-ups from four
Proptech streams:
- Construction Management
- Property & Asset Management
- New Materials and Technologies
- Investments and Financing
The Gruhas ASPIRE cohort includes Modcave, Realiti.io, Safearth, Settl, SustVest, and Tellus Habitat.