India, June 12 -- Bengaluru-based construction and interior materials marketplace Mad Over Buildings (MOB) has signed a term sheet to raise Rs.30 Cr (about $3.5 Mn) in a round led by an institutional investor, founder Kumar Vivek said without disclosing the name of the investor.

The round, which will give the startup a post-money valuation of Rs.180 Cr (about $18.7 Mn), will also see participation from existing investor SIG Tattva.

MOB, which counts building materials major Hindware among its strategic backers, plans to deploy the fresh capital towards geographic expansion, technology enhancement, and strengthening its credit-led procurement ecosystem.

Founded by Vivek in 2021, MOB operates in the construction materials and interior pr...