Landeed, a proptech startup, has raised $8.3 million. With the additional capital, the business will be able to hire new talent to supplement its accomplished workforce and fortify its technology foundation. Investors led by Draper Associates, Y Combinator, and Bayhouse Capital participated in this round.
Landeed seeks to develop India’s quickest and most thorough property title search engine with the support of these investors.
Landeed combines several government agencies from different states to produce “plaid-like” property summary data. Using the application, a person can quickly and easily verify a 20-year-old property transaction ledger.
To do this, we created a standardized interface that condensed the various search techniques across states into a simple and seamless user interface.
“This unique proposition has led our team to witness impressive revenue growth. We are grateful to our investors for placing their trust in our service as we work towards building the largest possible user base, making Landeed for the world, not just India,” said Sanjay Mandava, CEO and co-founder of Landeed.
Landeed aims to be the Google of real estate
Landeed, founded in 2022, makes property due diligence easier for all parties to interact with one another and complete transactions. The startup streamlines the various search options across states into an easy-to-use interface.
The Bangalore-based startup offers a Google-like search engine for real estate titles as a solution to the ownership dilemma.
The business is addressing a highly challenging and vital issue that no other firm has attempted to address. It gathers all the information a landowner or buyer needs to confirm everything with a specific property is in order.
The subscription-based website essentially enables owners, brokers, attorneys, and developers to look up a property’s real estate information. The startup uses public databases as its information source.
On Landeed, users can submit the necessary information, such as a survey number, and immediately obtain an Encumbrance Certificate (EC) for a property generated by the government. The specifics include current and previous ownership data going back 20 to 25 years.
In addition to ownership information, the proptech startup provides a “legal opinion” feature where users can seek advice on financial records, ongoing legal matters, and even the preparation of sale papers.
Soon, the business intends to expand its services to additional states. Andhra Pradesh, Telangana, Tamil Nadu, West Bengal, Uttar Pradesh, Karnataka, and Maharashtra are some of the states that Landeed now covers. It will soon be accessible outside of India too.