HYDERABAD: Proptech startup Landeed raised $5 million (approx. 43 crore) in a Series X funding round led by 10x Founders Fund, with participation from others such as Oliver Jung, Paradigm Shift, Pioneer Fund, and Snapdocs founder Aaron King. The Hyderabad-based startup stated that this round continues its earlier fundraising, which was among the largest seed rounds by a proptech startup in 2023.
“Both the rounds were oversubscribed, with existing investors displaying strong interest along with new investors at a multiple of the valuation from the seed round. Nearly all of the earliest institutional investors in Landeed have now re-invested,” it said.
The startup mentioned that the new funding is the foundation for the development of Landeed Labs, a division dedicated to advancing the company’s AI and machine learning (AI/ML) capabilities and underscores its bid to spearhead technological advancements in property title search and real estate transactions.
Landeed Co-founder & CEO Sanjay Mandava said the startup plans to utilise the funds raised to hire STEM and technical talent to augment growth in the core business.tnn
The AI-powered startup simplifies title searches, providing instant access to ownership history, sale deeds, transaction records, encumbrance certificates, confirming whether a property is free from legal or monetary disputes.
Source Homevior.in
