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Wednesday, January 25, 2023

Landeed gets $8.3m to grow its property data business

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Landeed, a startup for property records in India, has raised $8.3 million. The funding round was led by Draper Associates, Y Combinator, and Bayhouse Capital. Landeed believed it will practise the backing to employ people and increase its technological set-up.

Draper Associates, Y Combinator, and Bayhouse Capital led an $8.3 million fundraising round for Landeed, an Indian firm for property records.

Landeed stated that the investment would be used to recruit people and strengthen its technology infrastructure as it develops a comprehensive property title search engine and becomes a real estate transaction centre.

“Landeed ties together several government agencies from various states to provide a ‘plaid-like’ property summary data.

An individual may use our tool to verify a property transaction ledger dating back 20 years in two seconds.

“We designed a standardised interface to streamline the different search techniques across states into an easy and fluid user experience,” stated Sanjay Mandava, CEO and co-founder of Landeed.

Landeed, which was created in 2022, claims to be simplifying property due diligence for all parties in a country where land disputes account for 67% of all court proceedings.

On Tuesday, Landeed finished its oversubscribed seed round.

Landeed received a pre-seed round six months ago from Justin Hamilton (CEO of Clutterbot), Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC), AVCF Fund, and nine Y Combinator alumni.

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