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Property data start-up Landeed raises $8.3mn in seed round funding

Company says it will use financing to build property title search engine, improving technology

Start-ups | property | Companies

BS Reporter  |  Mumbai 

Funds, Investment
Illustration: Binay Sinha

Landeed, a startup for records in India, has raised $8.3 million in a funding round led by Draper Associates, Y Combinator, and Bayhouse Capital.

Landeed said it will use the funding to hire people and improve its technological infrastructure as it builds a comprehensive title search engine and become a hub for real estate transactions.

“Landeed weaves together multiple government departments across various states producing a ‘plaid-like’ summary data. Through our application, an individual can verify a property transaction ledger going back 20 years in two 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, chief executive officer (CEO) and co-founder of Landeed.

Landeed, which was founded in 2022, said it is simplifying property due diligence for all parties in a country where 67 per cent of all court cases are disputes about land.

Landeed closed its oversubscribed seed round on Tuesday. Six months ago, Landeed raised a pre-seed round from Justin Hamilton (CEO, 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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First Published: Tue, January 24 2023. 12:24 IST