Proptech startup on Friday said that it has raised $12 million in a Series A round. This round was backed by existing Silicon Valley investors and new strategic investors and angels, notably CRED founder Kunal Shah.
The funds will be used for market expansion, boosting product portfolio, and building data infrastructure across customer, broker, and developer segments, the startup said in a statement.
The funding will allow Blox presence to service more developers as well as create a higher property density for customers to view more projects being serviced by the company.
Blox Founder and CEO Aditya Jhaveri said, “We are stoked to receive this round of funding from our existing Silicon Valley investors, new strategic investors and angels, along with Kunal Shah. It reaffirms their faith in our vision to lead India’s property technology transformation and disrupt the $100 billion real estate market.”
“The Indian real estate sector has massive untapped potential and we are proud to be at the forefront of this growth opportunity,” he added.
Blox is a fully-integrated online real-estate service that allows customers to make their home-buying experience as seamless as possible. A relationship manager is assigned to every home buyer to assist with virtual and physical site visits across the city.
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