[Funding alert] Proptech startup Zvesta raises $5.5M from Hindustan Media Ventures
Zvesta, a Gurugram-based proptech startup, has raised funding of $5.5 million in Series A round from Hindustan Media Ventures Limited.
The startup said it will utilise the capital to build its brand and collaborative marketing for real estate aggregation across the country. Its primary focus is on building alliances and partnership across India, strengthening through its technology product.
Piyush Gupta, Group CFO, HT Media Limited, said,
“Zvesta’s real estate search engine and the database on which they are working is laying a foundation for homeowners, buyers, sellers, renters, real estate agents, landlords, and property managers to discover and maintain vital information about homes, real estate, transactions, and home improvement.”
Founded by Rajan Dang and Anushree Srivastava in 2016, Zvesta provides a SaaS platform for buyers, sellers, developers and brokers to search, listing, advertising, selling, buying, and renting out various properties under the respective category of residential, commercial, plots and land.
In September 2019, another Gurugram-based proptech company Square Yards raised $20 million of equity capital from a clutch of investors including Bennett Coleman & Co Limited (BCCL), Genkai Capital, Founders of PropertyGuru – Steve Melhuish and Jani Rautiainen, Koh Boon Hwee, former Chairman of Singtel, and DBS. Some of the existing investors also participated in this round.
Earlier this month, Tanuj Shori-led startup Square Yards also announced the acquisition of Mumbai-based rental and property management platform Azuro.
Square Yards, which is backed by Anil Ambani led-Reliance Group, reported last May that it had turned profitable. It is now scaling its business in India and further globally in countries like the UAE, Canada, Australia where it has a significant presence.
In August, Delhi-based Clicbrics, a tech-based property brokerage platform, also raised $3 million (around Rs 20 crore) in a Pre-Series A round led by Manny Singh of Kavi Fund; Peter Mann, Fund Manager at Gluskin Sheff, along with a senior MD of one of the largest Canadian pension funds, among others.
(Edited by Saheli Sen Gupta)