Bengaluru: Proptech unicorn NoBroker has raised $5 million from expertise big Google in an prolonged Collection E spherical, via which it had earlier secured $210 million of funding in November 2021.
The funding has been created from Google’s $10 billion India Digitization Fund, which was introduced by CEO Sundar Pichai in 2020. Google joins NoBroker’s present traders Normal Atlantic, Tiger International and Moore Strategic Ventures within the Collection E spherical.
NoBroker, which had turned a unicorn after elevating capital in 2021, has raised the brand new funding at an analogous $1 billion valuation. With this, NoBroker, which is the primary proptech unicorn within the nation, has raised $366 million until date.
Bengaluru-based NoBroker caters to property-related wants from renting, shopping for, promoting, dwelling providers, monetary providers, to society administration providers via NoBrokerHood. It’s India’s first proptech unicorn.
NoBroker’s fund-raise comes at a time when the true property sector is witnessing a bull run, the place dwelling costs and rents have each been on an increase, and residential gross sales have seen uncommon momentum after the pandemic.
“We’ll leverage the partnership with Google to construct some distinctive options, with a concentrate on rising NoBrokerHood. That is the primary proptech funding by Google in India, and is a good testimonial to the product we’ve got constructed,” Akhil Gupta, co-founder and chief expertise and product officer of NoBroker.com.
The nine-year-old agency plans to achieve 1 lakh societies via NoBrokerHood within the coming years.
NoBroker, which operates on a zero brokerage mannequin, additionally gives worth added providers resembling packers and movers, authorized documentation, dwelling loans, on-line lease fee amongst others. It presently operates throughout six cities: Bengaluru, Chennai, Delhi-NCR, Hyderabad, Mumbai, and Pune. NoBrokerHood operates in 5 extra cities- Kolkata, Coimbatore, Ahmedabad, Jaipur, and Lucknow.
“We’re seeing an upward development within the property shopping for section and this funding will assist us deepen our investments in resale and first sale verticals. We’ve got seen growing demand for individuals desirous to lease and purchase homes in gated communities. It’s an opportune time to construct options that may elevate society residing expertise for residents and this partnership will assist us obtain this purpose sooner,” mentioned Saurabh Garg, co-founder and chief enterprise officer at NoBroker.com.
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Supply: Live Mint