John Salt Pvt Ltd, which operates proptech startup Landeed, has raised seed funding of $8.3 million (around Rs 67.7 crore), co-led by Draper Associates, Y Combinator and Bayhouse Capital.
Several investors, including Paradigm Shift VC, Salarpuria Sattva, 10x founders fund, Capital X, Olive Tree and Stonks fund, also participated in the funding round.
As per the startup, the raised funds will be used for hiring and further developing its tech stack.
Landeed | Title Insurance For Indian Real Estate
Founded by Sanjay Mandava, ZJ Lin and Jonathan Richards in 2022, Landeed is a Telangana-based property title search engine that allows parties like owners, agents and buyers to conduct the necessary due diligence related to the property.
Speaking about the development, Sanjay Mandava, Co-founder of Landeed, said,
“Landeed weaves together multiple government departments across various states producing 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 have built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience.”
Helping citizens safeguard their property ownership and make informed decisions, Landeed allows them to check and verify the necessary documents about a property. It performs a fundamental task to any property ownership, like automatic document pull and title check.
In 2022, Landeed raised $2.3 million in a pre-seed round from Goodwater Capital, Olive Tree, Justin Hamilton (Clutterbot), Manmohan Chandolu, and several other investors. Over the years, several proptech startups have come up with disruptive solutions, and the sector witnessed major investments last year.
As per a report by CII and Colliers named ‘Real Estate 3.0: Technology-led growth,’ Investments in the proptech firms are expected to cross $1 billion in 2025, 2x from the 2020 level.
In 2022, several proptech startups, including online real estate marketplace Blox, Mumbai-based Homesfy Realty, Zapkey and POPT, raised funds.
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