Powerplay valuation halves in fresh funding

Construction management startup Powerplay is set to raise fresh capital from its existing backers, Accel India and Surge Ventures, after a three-year funding gap, but at a steep 57% valuation markdown.

The board at Powerplay has passed a special resolution to issue 1,739 Series A2 CCPS at an issue price of Rs 98,512.12 per share, to raise  Rs 17.13 crore (approximately $2 million), according to the company’s regulatory filings with the Registrar of Companies (RoC).

Accel India…