Mumbai based map based real estate search portal, Housing.co.in has announced $2.5mn of Series A funding from Nexus Venture Partners. As per the company the raised fund will be used to establish Data Science Lab (DSL) and to aggressively expand data sciences team with over 30+ IITians in these teams.
Launched in 2012, by a group of 12 IIT Mumbai Alumni, Housing.co.in works on idea to help people to book or rent flats. It makes house hunting easy through its unique and exceptional user interface which empowers users with the ability to view a house without necessitating physical presence.
As per Advitiya Sharma, Co-founder, Housing.co.in, Nexus Venture Partners experience in building high technology companies have attracted them and Nexus team caught interest in the market opportunity of online search for home buying and renting, as stated by Suvir Sujan, Co-founder , Nexus Venture Partners.
Earlier Housing.co.in has raised two round of funding back to back this year, in February it had raised angel funds, led by Zishaan Hayath of Future Bazaar and several other investors including Vaibhav Puranik, Shishir Kapoor, Hemanth Goteti, Gagan Goyal, Harsh Baid, Aditya Agarwal and Aatif Misbah. In March, it raised funds from former Network 18 CEO – Haresh Chawla.
The startup is perceived as a unique portal for its UI, and its data approach. The Data Science Lab will develop features like area based pricing, society ratings etc. The company is also building large headquarters for technology team which will take away a major part of their funds. It has recently expanded its operations to Hyderabad, Pune and Gurgaon.
Recent investments of Nexus Venture Partners include SaaS based order management and fulfillment solution company Unicommerce; Seattle & Chennai-based startup Indix Corp & Online Marketplace Shopclues.