Noida-based proptech startup HouseEazy has raised $7 million in Series A funding, led by Chiratae Ventures, to expand its innovative machine-learning algorithm-based platform for resale homes across the NCR.
The round also saw participation from Alteria Capital and existing investor Antler. This funding round, which includes a mix of debt and equity, marks a significant milestone for HouseEazy as it aims to accelerate its growth in the National Capital Region (NCR).
HouseEazy, a full-stack marketplace for resale homes, will use the fresh capital to expand its operations across new geographies in the NCR, enhance its brand presence, grow its team, and upgrade its product offerings.
Founded in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy leverages a proprietary machine-learning algorithm to provide real-time price quotes to sellers, streamlining the resale process by reducing the need for multiple meetings and negotiations.
Expansion Plans and Strategic Growth
With this new funding, HouseEazy plans to extend its reach beyond its current Noida, Ghaziabad, and Gurugram operations. The company also aims to enter other Tier I cities, including Pune, Mumbai, and Bengaluru. The startup’s quick expansion has been bolstered by its asset-light model and a network of 2,000 channel partners, enabling rapid scaling across markets.
HouseEazy has achieved an impressive gross merchandise value (GMV) annual recurring revenue (ARR) of INR 425 crore and is targeting a GMV ARR of INR 1,800 crore within the next 15-18 months from the NCR market alone. This funding round comes just seven months after HouseEazy secured $1 million in seed funding, also led by Antler.
Proptech Sector Attracting Investor Attention
India’s proptech sector continues to draw significant investor interest. HouseEazy’s recent success follows similar investments in other proptech startups, such as Mumbai-based Truva, which raised $3 million in seed funding earlier this month, and TruBoard, which secured an investment from HDFC Capital in July.
HouseEazy’s innovative approach to the resale home market, combined with solid investor backing, positions it for continued growth in the rapidly evolving proptech landscape.
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