Indian real estate aggregator startup, Square Yards, has acquired creative and design studio, Oryden Tech Labs, for an undisclosed amount.
As a part of the deal, the entire team of Oryden Tech Labs will join Square Yards.
Founded by Keyur Bhalavat and Ravi Patel, Ahmedabad-based Oryden started as a 3D architectural design studio. It offers design services like industrial process design and virtual reality setups for products and buildings.
“Digital is increasingly becoming the game changer in real estate industry with concepts like interactive visualisations, virtual reality and AR helping users to imagine their future home before moving in. Bringing in Oryden under the Square Yards umbrella will help us enhance our design and innovation bandwidth,” Square Yards CEO Tanuj Shori said.
This is Square Yards’ third acquisition of the year. Earlier it had acquired Realizing.In, a search and discovery portal known for having the best of algorithmic and analytics based property research and LUXE, a Singapore-based luxury realty agency.
Founded in 2013, by Tanuj Shori, Square Yards, is a technology-enabled transaction and aggregator platform for global real estate. The company currently has presence in 21 cities and six countries, and employs more than 800 people led by a team of accomplished professionals, ex-bankers and Ivy school alumni.
The startup has recently crossed $15 Mn (INR 100 Cr) in revenues, with a gross transaction value in excess of $450 Mn.
The company boasts of excellent relationships with more than 500 A grade developers in India, US, UK, Australia, Singapore, Malaysia, Japan, Canada, Bulgaria, Mongolia and UAE. It has already facilitated real estate transactions in excess of US $350 Mn. The startup currently enjoys a virtual monopoly in offering real estate advisory service to the NRI/PIO diaspora.
Square Yards is currently in the process of creating India’s first and mobile-only aggregation platform, Square Connect, for real estate brokers, financial institutions and online firms, providing them access to a much larger inventory.
Square Yards has raised $6 Mn in May from Singapore and Hong Kong based investors.
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