HouseEazy is an online platform for reselling residential properties that raised 4 million USD from Chiratae Ventures in its series A funding round. The funding round saw participation from various new and existing investors including Antler Innovation Fund, Veena Jindal, and IA Growth Opportunities Fund. Chiratae Ventures led the round with Rs 29.62 crore followed by Antler Innovation Fund with Rs 2.86 crore and IA Growth Opportunities invested Rs 76.25 lakh while the remaining Rs 29 lakh came from individual investor Veena Jindal.
The board has approved a resolution to allot 3,915 shares at an issue price of Rs 10 each and a premium of Rs 85,666 on a preferential basis and by private placement to raise $4 million. According to the company filing, the startup will use these fresh proceeds to increase its product line, improve its platform capability, and expand its network while developing its market presence. The prop-tech startup provides a platform for users to fill in apartment details and get customers after visiting the property. The platform uses machine learning for real-time price offers that take data such as registry records, on-ground market demand, apartment details, supply analysis, and past transactions. This startup aims to simplify the property re-selling access for its users and provide them with a seamless experience.
The company claims to develop a full-stack AI-driven platform that provides the properties with the best price options. This application makes it faster and easier to search multiple things and collect the data in the proper order for a particular property. The startup data intelligence platform, the kredible mentioned that the company had a post-money valuation of Rs 156 crore. The company has secured over $1.4 million since its inception, including 1 million USD raised from Antler during its seed funding round in 2023. The prop-tech platform faces competition from other companies in the same segment such as Opendoor, Loft, and more.
The startup announced an operating revenue of Rs 2.78 crore in FY23. However, the losses were around Rs 44 crore in the same duration. This investment will enable the company to expand its customer base and grow its brand presence. This Noida company reported an ARR of Rs 250 crore while maintaining profitability and it expects to reach Rs 1,000 crore ARR by the end of March 2025.
Conclusion:
HouseEazy is a Noida-based proptech startup that offers an online platform for re-selling residential properties. The startup secured a fresh capital of 4 million USD in its series A funding round led by Chratae Ventures Fund with the participation of Antler Innovation Fund, IA Growth Opportunities, and Veena Jindal. The data intelligence platform thekredible mentioned the post-money allotment valuation of the company at $18 million. The startup aims to use this investment to strengthen its position, expand its network, and provide more innovative proptech solutions. The company will use the fresh capital to improve its platform capability. The development came just when the prop-tech sector saw increased investor interest.
