Map based real estate search portal, Housing.co.in raised $2.5mn funding from Nexus Venture Partners. The current round of funding will be used to aggressively expand its technology and data sciences teams with over 30+ IITians in these teams.
Owned and operated by Mumbai-based Locon Solutions Pvt Ltd, the portal has reached operational break-even in Mumbai and has announced expansion to the cities Pune, Gurgaon and Hyderabad last month.
Advitiya Sharma, Co-founder, Housing.co.in, said, “We are very happy to partner with and receive mentoring from India’s leading VC, Nexus Venture Partners. Their experience in building high technology companies in India and abroad is what attracted us. We were just amazed by the speed of their decision making and trust they had in our team”.
Last time we spoke to Advitiya he said they have received a few in-bound requests from Indian and foreign VC’s but they are scouting for the right partner who will match their core belief of speed.
Meanwhile, Suvir Sujan, Co-founder, Nexus Venture Partners, spoke on the investment, “The Housing team is disrupting online search for home buying and renting in India like never before. We were very impressed with the vision, passion and speed of execution of the founding team and we are excited to partner with them.”
Founded eleven months ago by a group of IIT Bombay students, Housing aims to disrupt the online real estate market with data and technology. In February this year, the startup has raised an undisclosed sum from a group of angel investors, led by Zishaan Hayath. Former Network 18 CEO, Haresh Chawla also invested an undisclosed amount in Housing in March this year.
Housing.co.in competes with Info Edge owned 99acres, Times Business Solutions Limited‘s MagicBricks.com, Makaan.com in the real estate online space.
Nexus has invested in ventures like Snapdeal.com (Ecommerce), MapMyindia (Digital Navigation), Komli (Online ad network) etc.
