Real estate advisory Square Yards Consulting said it has raised $ 6 million (Rs 38 crore) in pre Series A funding.
The funds have come from a clutch of investors in Singapore and Hong Kong.
Square Yards has facilitated real estate transactions to the tune of $250 Million Gross Market Value (GMV) for India, and $ 50 million GMV for Global Real Estate in the first year of its operations, a company statement said.
Tanuj Shori, CEO and Co-founder of Square Yards, said, “With the funding amount, we are aiming at a share of 15 per cent of India’s primary residential real estate market by the end of 2017. Also, we plan to scale-up our operations across multiple distribution platforms, including e-commerce.”
Sqaure Yards said it is also in the process of creating its own e-commerce portal to assist the investor, both foreign and domestic, about real estate in considerably less time.
The company said it had revenues of Rs 38 crore in the first year of operation.