Source: Entrackr
Bangalore, dated August 1st, 2025: The construction technologies startup Powerplay is raising funds from existing investors Accel India and Surge Ventures, although at an extremely discounted valuation. The company has seen its value erode by nearly 57% since the last round in 2022.
According to the documents filed at the RoC, Powerplay will issue 1,739 Series-A2
CCPS shares are at a price of ₹98,512.12 per share. Through this round, the company will raise around ₹17.13 crore, which is in the vicinity of $2 million. Both Accel and Surge will inject ₹8.56 crore each during this round.
The Big Drop in Valuation
Post this round, the Powerplay should be valued at about ₹258 crore (about $30 million). It is a massive drop from the earlier valuation of ₹600 crore ($75 million) put on it in August 2022, when it raised $7 million led by Accel, according to the startup data intelligence platform TheKredible.
This brings the total funds raised so far to ₹117 crore.
Shareholding After Investment
After this investment:
- Accel will be the largest external shareholder with a 21.25% stake
- India Quotient will have 15.70%
- Surge Ventures will have 15.47%
- The founders, Iesh Dixit and Shubham Goyal, will keep 38.22% together
About Powerplay
Powerplay was started in 2019 by Iesh Dixit and Shubham Goyal as a construction management platform that connects teams working on building sites with office teams. The app helps construction companies manage and track:
- Daily progress of work
- Attendance of labor
- Materials and invoices
- Issues and complaints
Budgeting
Construction work is made less chaotic and efficient on this platform because everything is organized on one digital platform.
Financial Performance
The current financial report for this year (FY25) for Powerplay has not been filed yet. However, the company started gaining in the past year, FY24. Its revenues increased by 43% and from ₹3.07 crore in FY23 were now at ₹4.39 crore in FY24.
The losses at the same time saw a decline of 14%, from ₹37 crore to ₹31.92 crore. This means that the company is still in a state of loss but is slowly heading toward financial health.
Conclusion: Even though Powerplay has managed to raise fresh funds, the steep decline in valuation underlines its woes. In the future, the company will have to expand more quickly and rein in its expenses in order to restore investor confidence.
