Property listing portal Housing.com has raised around USD 19 million in a fresh round of funding at a valuation of USD 50 million. The investment was led by Helion Ventures, Qualcomm Ventures and Nexus Venture Partners.
The raised funds will be used to hire talent, build technology and for increasing its branding and marketing strategy. Earlier, It had received USD 18 million by Helion Ventures and USD 2.5 million seed funding from Nexus Venture Partners. This takes the total funding raised by the firm to date to around USD 39.5 million.
Launched in 2012, Housing.com is a map based real estate search portal. The firm was set up by a group of 12 graduates from IIT Bombay. It aims to simplify finding, renting and selling homes in India.
Economic Times says: “The investors bought into this idea, they are excited about the next few years for the company,” said Advitiya Sharma, the 24-year old co-founder of Housing.com.
Investors have been bullish about the online property listing business. “As investors, our goal is to support brilliant founders pursuing audacious ideas,” said Suvir Sujan co-founder of Nexus.
Housing.com has established a first of its kind data science laboratory for the real estate industry that helps it mine and analyse data on a constant basis.
It has mapped over 80,000 houses in Mumbai and some 50,000 houses in Bangalore which constitutes over 5% of the total houses in both cities. They are also using drones (unmanned aerial vehicles) to collect this data which includes aerial surveys and photographs.
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