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January - 2014 - issue > Venture Beat

Indiaproperty.com raises about Rs.74 Crores in Series B Funding

SI Team
Thursday, January 9, 2014
SI Team
India Property Online Pvt. Ltd. (holding company of Indiaproperty.com) has raised over Rs.74 Crores in its series B Funding led by Bertelsmann with participation from existing investors Canaan Partners and Mayfield Fund. It had earlier raised Rs.38 Crores from Canaan Partners and Mayfield Fund in May 2013. Founded by Murugavel Janakiraman, IndiaProperty.com offers property marketing solutions serving builders, real estate agents and home owners to sell or rent their properties, while offering a feature rich interface for property buyers to search and identify properties that match their requirement. Formerly a part of Matrimony.com, the company was demerged as a separate entity in May 2013. Veda Corporate Advisors acted as the sole advisors to the Company in this transaction.

The company plans to use the capital raised to expand its technological and geographical reach, along with brand building and extending services to tier 2 and 3 cities in India. "IndiaProperty was conceptualized with a vision of becoming the largest and foremost player in the real estate classified market and we are well and truly on our way to realizing that vision. The addition of a global media powerhouse like Bertelsmann as an investor and partner will help us further consolidate our position in the market," says Murugavel Janakiraman, Founder & Chairman, IndiaProperty.com.

Bertelsmann is an international media company whose core divisions encompass television, book publishing, magazine publishing, services, and printing. Bertelsmann India Investments (BII) is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. It focuses on investments in the digital, education, media and services sectors. BII invests in pioneering companies developing new technologies, business models and visions of the future. It focuses on early stage as well as growth stage investments.

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