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After closing an undisclosed amount of funding over dinner from the ex-chief executive of Network 18 this March, Indian housing marketplace Housing.co.in has announced a new round of $2.5 million.
This comes from Nexus Venture Partners’ $270 million fund that closed last September to fuel the tech scene in India.
“The housing team is disrupting online search for home buying and renting in India like never before,” Nexus Venture Partners cofounder Suvir Sujan said of the investment. “We were very impressed with the vision, passion and speed of execution of the founding team and we are very excited to partner with them.”
Much like Zillow, Housing.co.in is a real estate search portal that helps you find housing based on the number of rooms you want and geography. It’s a map-based website that sorts housing by two categories: rent and sale. It works on a subscription-based model that enables partners and property dealers to upload listings for a fee.
The Mumbai-based company recently added Bangalore to its service and operates in five cities. It’s the brainchild of a group of students from IIT-Bombay, the top technology institute of India.
With the new cash injection, Housing.co.in cofounder Advitiya Sharma hopes to expand his technology and data sciences teams.
According to Housing.co.in, its real strength lies in its data. Since its inception, the company has been obsessed with its data approach. It plans to add new features like area-based pricing and ratings in the near future.
Sharma, an aerospace engineer who hails from a small town in the state of Jammu and Kashmir, founded the company with an aim to make “home search hassle-free.”
Image credit: 401kcalculator.org/Flickr
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