Construction-tech startup Gravel secures $14M from NEA

Gravel was launched with a vision to simplify the process of finding construction professionals and workers. It recently raised $14M in funding.

• Funding Source: Its funding was sourced from notable investors such as New Enterprise Associate (NEA), co-founder of Marvell Technology Group Weili Tai, executive chairman of Cadence Design System Lip-Bu Tan, SMDV, East Ventures, and other strategic investors. This marks NEA's first investment in Southeast Asia.

• Expansion Plans: Although currently focused on Indonesia, Gravel plans to expand globally using its funding. It was launched in 2019 with the primary goal of connecting users with construction workers via an app.

• Gravel Growth: Today, the platform has evolved to include four primary features—Gravel Construction (for hiring daily construction workers), Gravel Borongan (for lump sum contracts), Gravel Maintenance (for on-demand home repairs), and Gravel Material (for ordering tools and materials).

• Status and Numbers: Between 2020 and 2022, Gravel has achieved an impressive 45x revenue growth and currently boasts 1.7 million workers on its platform. It has been utilized for over 6,000 projects across 20 Indonesian provinces, with projects ranging from residential to larger projects like LRT Jabadebek, Jakarta International Stadium, Pelni Hospital, and the Keong Man IMAX Theatre.

• Founding Team: The team behind Gravel includes chairman Nicholas Sutardja and co-CEOs Georgi Ferdwindra Putra and Fredy Yanto.

• Gravel Perks: Advantages of being on the Gravel platform include access to regular job opportunities, workshops, certificate training, a loyalty and bonus program, and health and wellbeing support. For service providers, Gravel offers increased visibility to clients, access to a wider range of projects, and more efficient client matching.

• Other Platform Features: The platform also provides real-time analysis of project activities, aiding in budget calculations and decision-making. Plans entail a predictive model for monitoring construction progress.

Indonesia's construction industry is poised to undergo significant change, driven by companies like Gravel. NEA partner and head of Asia, Carmen Chang, voiced her excitement about Gravel's potential to elevate Indonesia's construction sector through technology.