dmg Information Asia Pacific has invested USD 5 million in Mumbai-based real estate data and analytics firm Liases Foras.
Dmg Information (dmgi), a subsidiary of British media company DMGT has investments in B2B information media businesses in sectors like property, education, energy, commodity and structured finance, globally.
"dmg Information will invest more than USD 5 million in Liases Foras and aims to increase its business stake in the company over the next few years," US-based dmgi said in a statement.
In May 2015, dmgi made its first strategic investment in Chinese property information company Funcent, followed by investment of USD 3 million in Propstack, a Mumbai based commercial real estate data and technology company.
Established in 1999, Liases Foras is a non-brokerage residential real estate data and analytics firm.
The funds raised will be used to hire key management team members, increase its presence in major metros and launch two new verticals -- monitoring services and automated valuation.
Liases collects inventory and pricing data of the top 25 cities in India, covering around 15,000 new build projects from over 8,000 developers on a quarterly basis.
Its list of clients includes leading mortgage companies, real estate developers, government bodies and leading global research organisations.
Dmg Information Country Head Tej Kapoor said: "Residential real estate is one of the largest asset classes in India which is likely to grow from USD 80 billion to USD 140 billion by 2020. However, residential real estate data still is very opaque."
Liases Foras CEO Pankaj Kapoor said the funding would help the company in future growth.