Another Indian startup is added to Softbank’s trusts and fund. The two companies declared that the Japanese investment fund along with Falconedge and other investors have invested $90 million in Housing.com.
In two months, this is their third big investment after Snapdeal shopping website and Ola Cabs taxi service, along Scoopwhoop.com, a keeper of online Indian content and Buzzfeed investment.
Co-founder, Advitiya Sharma stated that these funds will be utilized to map over 40 million houses across 300 cities in India and so far, $121 million have been raised through five rounds of funding.
“Housing.com has an extraordinary vision and insight in building exceptional products and transform the way people conduct, work, and research in real estate.” said Nikesh Arora, Vice Chairman of SoftBank Corp.
After e-commerce and taxi companies, the next big target for investors is the real estate. $30 million Series E funding was raised by Common Floor from Tiger Global in September. Meanwhile Rupert Murdoch’s Newscorp bought $25 percent in real estate search firm Proptiger.com.
Other big players involve MagicBricks, 99Acres, IndiaProperty and Makaan. Small startups are also included like Flat.to and Grabhouse but Common Floor and Housing are the ones that have raised progressive capital.
Housing.com plans to add new initiatives like ‘On-off’ buttons, which is another feature for agents and home owners which enables the company to add selective houses to its database. It can be activated and deactivated whenever they are available in the market. When leases expire this will work for rental homes which often come to the market.
Recently, Housing and Tata Value Homes joined hands to sell their houses. Tata had put up houses from four projects for sale and were showcased on Housing’s 3D slice view platform.
Advitiya also stated that Housing sold more than half the inventory that Tata had put for these projects and their gross market value (GMV) was over Rs 50 crore. It was done in five days and they had buyers sitting in U.S and Africa who bought houses on their platform.