Friday, March 31, 2023

Proptech startup Landeed raises $8.3M led by Draper Associates, YC, Bayhouse Capital

Bengaluru-based prop-tech startup Landeed has raised $8.3 million in a seed funding round led by Draper Associates, Y Combinator, and Bayhouse Capital.

The startup said the raised capital will be utilized for hiring fresh talent to support the accomplished team and further strengthen the technological infrastructure.

Founded in 2022 by Sanjay Mandava, ZJ Lin, and Jonathan Richards, Landeed aims to build India’s most comprehensive property title search engine and also simplify the process of property due diligence.

The startup simplifies the multiple search methods across states into an intuitive and fluid experience. It collects all the data that is required by a land owner or buyer to ensure everything is in order with a particular property.

“Landeed weaves together multiple government departments across various states producing a ‘plaid-like’ property summary data. Through our application, an individual can verify a property transaction ledger going back 20 years in 2 seconds. To make this happen, we built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience,” said Sanjay Mandava, CEO and co-founder of Landeed.

“This unique proposition has led our team to witness impressive revenue growth. We are grateful to our investors for placing their trust in our service as we work towards building the largest possible user base, making Landeed for the world, not just India!,” Sanjay said.

Prior to the current round, Landeed raised $2.3 million in 2022 in a pre-seed round from Justin Hamilton (Clutterbot), Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC), AVCF Fund, and nine Y Combinator alumni.

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