Proptech Startup Landeed Secures $ 8.3 Mn Seed Funding
Landeed, a proptech business with backing from Seed, has raised $ 8.3 million. Investors led by Draper Associates, Y Combinator, and Bayhouse Capital participated in this round.
The money raised will be used to hire new employees to complement the accomplished team and advance the technological foundation of the business, as per reported by Entrepenreur.com.
Bengaluru-based Landeed was founded in 2022 by ZJ Lin, Sanjay Mandava and Jonathan Richards, It helps owners, agents, developers and legal advisors to check real estate records for building, lending and property transactions.
Read also – Jai Hind College Organises Business Conclave
“Landeed weaves together multiple government departments across various states producing a ‘plaid-like’ 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 built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience. This unique proposition has led our team to witness impressive revenue growth. We are grateful to our investors for placing their trust in our service as we work towards building the largest possible user base, making Landeed for the world, not just India,” said Sanjay Mandava, CEO and co-founder of Landeed.
The goal of Landeed is to simplify and improve the process of land ownership.
Read also – Garage Worldwide appoints Sanjay Deshmukh as the CEO
In India, land is valuable but also subject to encroachment and disputes. Land is a factor in two out of every three Indian court proceedings. The goal of Landeed is to simplify and secure land ownership. Their first solution automatically pulls documents and checks the title, two essential functions for every property owner. Since its release, the Landeed app has experienced tremendous growth (50k users in the first month) and favourable reviews (4.7 stars on the Indian app store).
Read also – [Funding alert] Deeptech Startup Ecozen Secures $25 Mn Led By Nuveen