Hyderabad-based proptech (property tech) start-up Landeed has raised $8.3 million in a seed funding round led by Draper Associates, Y Combinator and Bayhouse Capital, YourStory reported.
The company will utilise the find to hire skilled staff and fresh talent to bolster its team. Additionally, it will work on developing technological infrastructure.
Set up last year by Sanjay Mandeva, ZJ Lin and Jonathan Richards, Landeed is known for helping its users to look for property titles and receive land documents at affordable fees.
“We built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience. This unique proposition has led our team to witness impressive revenue growth,” Sanjay Mandeva, the chief executive officer ( CEO) and the co-founder, said.
Prior to this funding, the company raised $19.5 million in pre-seed funding last year. It was led by the CEO of Clutterbot, Justice Hamilton, Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maulice from Yellow Card, Christian Kaczmarczyk, AVCF Fund and nine Y Combinator alumni.
Currently, the company offers services in states like Andhra Pradesh, Telangana, Tamil Nadu, West Bengal, Uttar Pradesh, Karnataka and Maharashtra. Last year, the company claimed that it witnessed more than 7,50,000 application installations and it had a customer base of 1000.