According to a release, investors led by Draper Associates, Y Combinator, and Bayhouse Capital participated in the most recent investment round.

Landeed, a startup in the proptech sector, has raised USD 8.3 million (more than Rs 67 crore) to grow its operations. According to a release, investors led by Draper Associates, Y Combinator, and Bayhouse Capital participated in the most recent investment round.

The goal of Landeed is to create a thorough property title search engine.

The money will be used to bring in new talent to the business to help the accomplished staff and advance the technological foundation.

Ten more software developers will be hired by the business in order to help it become a provider of infrastructure-as-a-service (IaaS) for all real estate transactions.

According to Sanjay Mandava, CEO and Co-Founder of Landeed, “Landeed weaves together several government departments across various states providing a “plaid-like” property summary data.”

An individual can quickly and easily verify a property transaction ledger dating back 20 years using our tool. To do this, we developed a standardized interface that consolidated the many search strategies used across states into a simple and fluid user interface, according to Mandava.

Landeed, a company founded in 2022, aims to make property due diligence easier so that all parties may interact, communicate, and conclude deals. According to the statement, it streamlines the many search techniques used across states into a simple and seamless process.

A total of USD 3.42 billion in private equity capital was given to proptech companies in India between 2009 and June 2022, according to statistics from Housing.Com.

Due to the Covid epidemic, technology use in the real estate industry has grown dramatically over the past three years.

NoBroker.Com, a Bengaluru-based company, collected USD 210 million from investors in November 2021 and was valued at USD 1 billion, making it the first unicorn in the proptech industry.

Brick&Bolt raised USD 10 million from investors earlier this month.