Property discovery platform HousingMan said it has raised $1.5 million as seed funding to expand operations across India.
Bengaluru-based startup was co-founded in 2015 by Bhavadeep Reddy and Rajendran R to bridge the search gap between property buyers and sellers.
“HousingMan has closed a seed fund round of $1.5 million from undisclosed sources,” the company said in a statement.
The company which has consolidated its presence in the last two years in markets including Bengaluru, Chennai, Hyderabad and Pune will use the fund to scale to other key cities, it added.
HousingMan provides cognitive tools to shortlist a buyer’s preferences and then accordingly recommend properties. Its technology tools assist property agents in closing transactions more quickly thereby resulting in higher manpower efficiency.
The technology is aiming to disrupt the brokerage industry as it can be remotely triggered and managed to empower the local ecosystem.
“The Indian market is currently ripe for our model as the government is bringing about regulations like RERA and housing schemes like PMAY (Pradhan Mantri Awaas Yojana) to aid and assist the industry to achieve the goal of Housing for All in rapid time,” said Reddy.
Rajendran R said: “Home buyers are often confused with conflicting messages that they receive about properties. The reality is that one person may prefer a particular property which another person does not due to their preferences. We have hence developed tools that take into account the accurate preferences of buyers and to then recommend properties, resulting in making the decision making cycle shorter and quicker.