BUILK ONE GROUP, developer of a construction-materials online platform for contractors, on Monday announced that it had secured funding from AddVentures by SCG, joining forces to enhance the construction supply chain in Thailand and Asean with a full range of B2B platforms under the concept of “UNITED WE BUILK”.
Thai start-up BUILK plans to improve the service with AI-blockchain technology before expanding the business from five countries to all ten Asean nations, whilst Addventures believes the investment will be beneficial for BUILK, SCG and some 80,000 small to medium-sized contractors, said BUILK’s chief executive officer and co-founder, Patai Padungtin.
To boost competitiveness to another level, BUILK has joined forces with AddVentures by SCG and become a strategic partner under the concept of “UNITED WE BUILK” in order to enhance Thailand’s construction industry to catch the global digitisation trend and fully utilise a technological platform, Patai said.
In the future, it aims to develop a B2B (business-to-business) purchasing-buying process, to enhance the country’s construction industry and to expand the platform to all Asean markets.
BUILK ONE GROUP, a Thai start-up, has been in operation since 2009.
To date, BUILK.COM has served over 25,000 small and medium-sized contractors in five countries: Thailand, Indonesia, Laos, Myanmar and Cambodia.
Joshua Pas, managing director of AddVentures by SCG, said the contractor and construction-material business was continuing to expand in Thailand and Asean.
Last year, the total market value of construction materials among Thai contractors was estimated to be worth more than Bt68 billion, he said.
More than 75 per cent of the value was generated by small-to-medium-sized contractors that still run their business with an inefficient procurement and cost-management system, he added.
BUILK’s technology can help solve these pain points and enhance the efficiency of procurement and cost management for an estimated 80,000 contractors in Thailand alone, the MD explained.