POPT, a Chandigarh-based proptech aimed at bringing technology solutions to India’s real estate sector, announced raising a $2 million pre-seed funding round led by MRW Ventures and Riar Holdings, according to the Economic Times.
PROPT says it plans to use the fund for research and development, statistical analysis, standardization, and to build a full-stack SaaS-based IT solution for retail buyers and sellers, developers, agents and real estate companies.
In addition to these Canada-based investors, the company also received funding participation from seven Indian angel investors.
”After the extensive research, we have figured out that the new generation of real estate buyers has a global perspective and is willing to go ahead and even flip their current residences if they can find the right fit,” POPT co-founder and managing director Manpreet Singh stated in the announcement.
”For them, POPT is making online property search easy, personalized and hassle-free,” Singh said.
Recently founded in December 2021, POPT’s platform is expected to enable buyers and investors to seamlessly find the right property. It aims to focus on standardization, indexing, positioning and valuation of properties based on the basis of lifestyle, luxury and experiential factors.
Existing features such as listing, filtering, searching and a marketplace are also expected to be included.
In other recent proptech news, Canada-based Fraction is bringing its HELOC (home equity line of credit) product to the U.S. PURE also raised $50 million for its property management company consolidation platform.