Landeed, India's largest seed-funded proptech startup, has recently hit the ground running by raising US$ 8.3 Million. This round witnessed the participation of investors led by Draper Associates, Y Combinator, and Bayhouse Capital.
With these investors backing, Landeed, the brand, aims to build India's fastest and most comprehensive property title search engine. This new funding is set to be utilised to infuse fresh talent into the company to support the accomplished team and further strengthen the technological infrastructure.
As India’s real estate market is expected to reach a size of US$ 1 Trillion by 2030, this funding presents the startup with a huge opportunity in the proptech market. Tapping into the industry need, the investment procured will be used in a manner to build for the maximum number of users to reach Product Market Fit. The start-up plans to hire ten more software developers to help it become an IaaS (Infrastructure-as-a-Service) provider for all real estate transactions.
Speaking on the announcement, Sanjay Mandava, CEO and Co-Founder of Landeed, said, “Landeed weaves together multiple government departments across various states producing a ‘plaid-like’ property summary data. Through our application, an individual can verify a property transaction ledger going back 20 years in 2 seconds. To make this happen, we built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience. This unique proposition has led our team to witness impressive revenue growth. We are grateful to our investors for placing their trust in our service as we work towards building the largest possible user base, making Landeed for the world, not just India!”
In a country, where 67% of all court cases deal with land-related disputes, founded in 2022, Landeed is simplifying property due diligence for all parties to engage, communicate, and close deals. Landeed simplifies the multiple search methods across states into an intuitive and fluid experience. The company is solving a very difficult and serious problem that no other company tried to solve. It collects all the data that is required by a land owner or buyer to ensure everything is in order with a particular property.
In order to become the primary hub and authority for real estate transactions in India, Landeed closed its oversubscribed seed round today at a $ 8.3 million. Six months prior to receiving the new funding, Landeed had already raised a pre-seed round from Justin Hamilton (CEO, Clutterbot), Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC), AVCF Fund, and nine Y Combinator alumni.
