Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn

Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn

SUMMARY

Kunal Shah-backed Blox said it plans to increase its stake in Guardians to 50% over the next three years

Guardians, founded in 2016, is a real estate consulting firm that offers a range of services like property advising, land development, marketing and residential services

Blox said that the stake acquisition will help it expand its distribution capabilities

Kunal Shah-backed proptech startup Blox has acquired a 11% stake in Mumbai-based real estate advisory Guardians for $12 Mn. The startup plans to increase its stake in Guardians to 50% over the next three years. 

Blox said that the move is part of its plans to grow its gross transaction value (GTV) fivefold to $10 Bn over the next 3-5 years. 

“By integrating Guardians, we’re not only enhancing the homebuying process but also establishing India’s first platform capable of supporting both D2C and broker-led B2B2C sales,” Blox CEO and founder Aditya Jhaveri said.

Founded in 2020, Blox is a proptech platform. It claims that its fully integrated online real estate service allows customers to streamline their home-buying experience. It last raised $12 Mn in its Series A funding round from Silicon Valley in 2022.

Blox claims to have raised $35 Mn in funding from investors like CRED’s Kunal Shah and Tinder cofounder Justin Mateen till date.

Meanwhile, Guardians, founded in 2016, is a real estate consulting firm that offers a range of services like property advising, land development, marketing and residential services. 

In a statement, Blox said that the stake acquisition will help it expand its distribution capabilities. 

Guardians claims to have sold 23,000 units till date and have an inventory of 7,000 apartments to be sold in the next 3 years. Further, it has forged relationships with 86 developers and a network of 18,168 channel partners. 

Blox said that the integration of its AI-powered property recommendation with Guardians’ vast broker network will help it carve out its real estate development and management assets into a separate entity.

“By combining Guardians’ market expertise and with Blox’s technology, we’re setting a new benchmark for transparency, efficiency, and service,” Guardians’ director Jayesh Rathod said. 

The development comes at a time when the competition in the proptech space is rising due to increased investor interest. In September this year, JUSTO Realfintech raised $7 Mn from Arbour Investments, while HouseEazy secured $7 Mn in its Series A funding round led by Chiratae Ventures in August. 

In July, Jugyah raised $1.5 Mn in its seed funding round, co-led by White Venture Capital, QED Investors, and Godrej Properties.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn-Inc42 Media
Proptech Startup Blox Acquires 11% Stake In Guardians For $12 Mn-Inc42 Media
You’re in Good company