Plabro Networks Pvt. Ltd., a mobile only real estate platform, has raised $350K in first round of funding led by Flipkart founders Sachin Bansal & Binny Bansal, Sol Primero, Outbox Ventures and angel investor Sangram Singh.
Pankaj Garg along with Aaditya Jain, launched Plabro in March this year as a real estate networking and communication app that connects real estate brokers, property agents and dealers.
With the newly raised capital, the startup will focus on creating stronger networking ecosystem and widening its footprint across country. Plabro Networks is also planning to add data analytics as a key feature on the application to provide property market insights to the agents.
Pankaj said, “We plan to cover all metros and major cities in India within next one year. These funds will give a fillip to our plans to grow geographically and strengthen our infrastructure.”
According to industry experts, with over five lakh agents, the unorganised sector of real estate is estimated to generate revenues close to $5 Bn annually. Besides, the established players like Magicbricks.com and 99acres.com, real estate has seen number of stratups entering this domain. Incepted this year alone, mobile-enabled real estate solutions provider, Sunday Realty Solutions, raised more than $780K (INR 5 Cr) in August.
Recent Developments in Real Estate Domain In Past Six Months:
July 2015: DMG Information invested invested more than $5 Mn in Mumbai-based Liases Foras, a residential real estate market.
June 2015: Gurgaon-based real estate advisor firm, Squareyards, acquired Singapore-based real estate advisory firm Luxe Real estate.
May 2015: Online real estate portal Housing.com acquired Realty Business Intelligence, an organization aimed at providing uncluttered & intelligent information on the Real Estate Sector for $2-4Mn (INR12-24 crore).
April 2015: PropTiger.com acquired online property listings and classifieds player, Makaan.com for an undisclosed amount.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.