Sunday, July 14, 2024

Hyderabad-Based Proptech Startup Landeed Secures Strategic Funding

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Hyderabad-based proptech startup Landeed has secured strategic funding led by Paradigm Shift VC. While the exact amount wasn’t disclosed, Landeed had previously raised $8.3 million in January 2023 from investors including Y Combinator, Draper Associates, and Bayhouse Capital.

Focused on Growth

Landeed plans to use the new funds to expand its product line and increase its workforce. This will help boost its growth both in India and international markets. “We will use this additional firepower to expand our consumer-side offerings and scale our engineering team,” said Sanjay Mandava, Co-founder and CEO of Landeed.

What Does Landeed Do?

Founded in 2022 by Sanjay Mandava, ZJ Lin, and Jonathan Richards, Landeed offers a mobile app designed to help property owners, agents, developers, and legal advisors access real estate records. The platform simplifies the process of searching property titles and collecting necessary land documents. Landeed recently launched the AI Property Analyser, which provides a comprehensive ownership history of properties, from the initial owner to the most recent, including any transactions or encumbrances.

Landeed’s Market Presence

Landeed claims significant growth, with a 22x increase in key financial metrics. Over 100,000 property owners and agents have used its platform to buy, sell, and build real estate. “Though we weren’t actively raising funds, we were heavily oversubscribed in the last round and still had the majority of our previous round’s funding intact. We decided to move forward with Paradigm Shift’s investment due to our strong relationship,” said Sanjay Mandava.

With the new funding, Landeed is poised to continue its expansion, offering more advanced tools for the real estate market and increasing its presence in both India and international markets. Landeed raises strategic funding to expand its product line and workforce, enhancing growth in India and abroad. The startup aims to make real estate transactions simpler and more transparent for all parties involved.

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