Flipkart co-founders invest in Plabro Networks, a real estate start up

E-commerce player Flipkart's co-founders Sachin Bansal and Binny Bansal, along with other investors, have invested $3,50,000 (about Rs 2.3 crore) in a real estate startup named Plabro Networks.

"In first round of funding, we have raised USD 3,50,000 (about Rs 2.3 crore) from a clutch of investors including Flipkart co-founders Sachin Bansal and Binny Bansal," Plabro Networks co-founder said.

Flipkart co-founders have invested in their personal capacity, he added.

Plabro Networks has launched a mobile application 'Plabro' which will connect property brokers enabling them to close the property deals quickly.

Currently, the app is available in Gurgaon and Noida and the company has plans to take it to the other cities. The funds would be used to create a stronger networking ecosystem and expansion.

"Plabro Networks has the promise of changing the real estate landscape with its innovative ideas. I am sure that real estate agents, who are an inherent stakeholders in the real estate sector, will benefit tremendously from the application," Binny Bansal and Sachin Bansal were quoted in a company statement. Plabro's co-founder Aaditya Jain said the free mobile app was currently being used by about 3,000 brokers in Gurgaon and Noida.

"By sharing the inventories and requirements with other real estate brokers, one increases the reach manifolds. This helps in closing the deals faster, expanding the business horizon beyond geographical limitations," he said.

Jain said the company was in the process of adding data analytics and business insights that will support the knowledge base of customers.