Proptech Startup Propsoch Secures $2 Mn To Fuel Expansion
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Bengaluru-based Propsoch has secured $2 Mn (₹19.1 Cr) in a seed funding round led by Athera Venture Partners, Sparrow Capital and Vakil Group.
The proptech startup — which offers users a real estate advisory platform — will use the fresh funding to fuel its market expansion plans, build its team and double down on the platform’s research and advisory capabilities.
“This funding round helps us deepen our roots in our home market while we expand our footprint into Mumbai,” cofounder and CEO Ashish Acharya said.
Founded in 2022 by Acharya and Ravi Agrawal, Propsoch is a real estate advisory platform, where it offers end-to-end guidance to homebuyers from finding the properties to shortlisting them and closing the best deals.
Propsoch combines AI-led research with expert architectural due diligence. It evaluates properties across 80+ critical parameters including builder credibility, construction quality, project efficiency and future appreciation.
Since its inception, it has signed more than 500 projects across Bengaluru, and has worked with above 210 partner builders.
“After successfully advising 1,500+ families in Bengaluru, we are now scaling our ability to service 10,000+ homebuyers this year,” Acharya added.
Prior to this round, the proptech startup raised $600K in a pre-seed round led by the family offices of Godrej Group and Vakil Group.
The development comes at a time when the proptech segment has been gaining traction due to the growing demand from consumers to own properties at flexible financial options.
Since the start of this year, investors have backed proptech startups like PropertyPistol, Truva and Flent to back their massive expansion plans, betting on the increasing demand.
At the heart of all this is the homegrown proptech ecosystem, which is projected to become a $3.8 Bn opportunity by 2030.
Meanwhile, JSW One Platforms acquired proptech startup BuildNext in April, to strengthen its home construction wing — JSW One Homes.
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