Truva, a real estate technology startup based in Mumbai, has successfully raised $3 million in a seed funding round. The funding was led by Stellaris Venture Partners, with additional investments from well-known angel investors like Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori, and Groww founder Lalit Keshre. This investment will help Truva in its mission to simplify and enhance the home-buying experience for its customers.
Truva Innovative Approach
Truva was founded in 2023 by Puneet Arora, Monil Singhal, and Ankit Gupta. The startup is focused on revolutionizing the way people buy homes by providing a seamless and informed experience. Truva’s platform offers detailed property listings that include unique features such as natural light scores, noise ratings, 3D tours, and high-quality photos and videos.
In addition to these features, Truva provides comprehensive support for buyers, helping them with financing, paperwork, and registration. This holistic approach ensures that buyers can make informed decisions and navigate the often complex process of purchasing a home with ease.
Purpose of the Fundraising
With the $3 million raised, Truva plans to expand its team, improve its product offerings, and raise debt for working capital. The startup also aims to scale its operations to meet the growing demands of the real estate market. This will enable Truva to better serve its customers and continue its growth in the competitive real estate sector.
Growing Market Presence
Currently, Truva operates in Powai and Bandra, two prominent areas in Mumbai. The company has ambitious plans to expand its reach to other areas of Mumbai within the next year. Since its launch earlier this year, Truva has facilitated real estate transactions worth over Rs 30 crore in Powai alone, with an average property selling time of just 19 days, compared to the market average of 9 months.
Support from Stellaris Venture Partners
Ritesh Banglani, a Partner at Stellaris Venture Partners, expressed confidence in Truva’s ability to transform the home-buying experience. He noted that with rising disposable incomes and rapid urbanization, the demand for housing will continue to grow. Banglani emphasized Truva’s strong focus on understanding customer needs and delivering a superior home-buying experience as key reasons for the investment.
Truva’s innovative approach and recent funding success position the startup as a key player in the real estate technology market. With plans to expand and enhance its offerings, Truva is set to make a significant impact on how people buy homes in Mumbai and beyond.
