Facing Construction Project Delays? This Hyderabad Startup Cuts Costs & Maximizes Efficiency With AI

As the construction industry is largely unorganized, facing significant challenges such as inventory mismanagement and project delays, which can increase costs and reduce profits. Research shows that about 57% of construction sites are delayed, leading to an additional ₹5 trillion in costs as of March 2024.

To address this challenge, Hyderabad-based entrepreneur Aravind Maroju left his high-paying job to co-found the AI platform ProcureX alongside founder Narsi Reddy, Thej Kiran, and Bharath Reddy officially launched on May 09, 2024.

What is ProcureX?

ProcureX is a comprehensive construction management platform designed for construction companies, offering a one-stop solution for project oversight, material sourcing, and planning. Traditionally, companies use multiple platforms for project management, which can be costly and time-consuming. ProcureX consolidates all these services in one place, helping companies save both time and money.

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Real-Time Work Scheduling, Procurement, and Inventory Management

Construction companies often face challenges like inventory shortages, excess stock, and procurement delays, leading to increased costs and project inefficiencies. ProcureX streamlines construction management by offering:

• Real-Time Work Scheduling – Ensuring seamless coordination and project tracking.

• Optimized Procurement & Inventory Management – Reducing waste and preventing shortages with predictive insights.

• Reliable Supplier Recommendations – Connecting companies with trusted vendors across India for direct material sourcing.

With timely updates and automated procurement workflows, ProcureX enhances efficiency, minimizes costs, and ensures smoother project execution.

“Our platform reduces project delays and ensures timely inventory,  Procurement and work schedule management, thus lowering overall costs and improving profit margins, ” stated Aravind Maroju, Founder of ProcureX, in an interview with Startup Pedia.

 He noted that ProcureX uses Predictive AI for forecasting needs and planning, while Transactional AI interacts with suppliers to secure the best deals.

Companies can register on the platform, enter project details, and ProcureX will generate a comprehensive plan, including timelines, materials, labour, and costs.

“You won’t need to spend hours planning; the platform streamlines the process, enabling you to follow the ProcureX plan to get started,” he added.

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How ProcureX started and the plan ahead?

In 2023, after identifying key challenges in the construction sector and conducting thorough research to validate his concept. In 2024, Aravind, along with Thej Kiran & Bharath Reedy, developed a platform dedicated to procurement solutions. 

The venture has recently concluded its first major funding round, successfully raising nearly USD 1 million from a distinguished group of prominent tech retail investors and high-net-worth individuals. 

“We are excited to have secured such significant funding during our Seed round,” said the co-founder during the Startup Pedia interview.

Aravind has extensive experience in technology and sales, having spent 15 years in the corporate sector. Before founding ProcureX, he served as Chief Business Officer (CBO) and AVP of Sales for international markets. 

Despite the comfort and stability of his previous position, Aravind chose to pursue his entrepreneurial ambitions, driven by passion and confidence in his idea. 

“It was a difficult decision to leave a stable position and embark on a new venture from the ground up. However, after conducting thorough research and having confidence in the concept, I chose to take the leap,” he stated during an interview with Startup Pedia.

He allocated a significant percentage of the funding to develop the platform and to establish a team of 25 employees, with headquarters in Hyderabad.

Since its recent launch, ProcureX has successfully onboarded ten construction companies in Hyderabad and registered 150 suppliers prepared to supply commodities from diverse locations.

Having commenced operations in Hyderabad, ProcureX intends to expand its reach across India, with offices opening in Dubai and Saudi Arabia as the next target markets for growth.

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