Map-based real estate portal Housing.com has raised Rs 115 crore investment from Helion Venture Partners, Qualcomm Ventures and existing investor Nexus Venture Partners.
Of this, Helion has invested Rs 48 crore, Nexus Ventures Partners has invested Rs 43 crore and Qualcomm Ventures has invested Rs 24 crore.
The company plans to use this investment to expand its new projects section, extend its technology to new platforms and for branding and marketing activities.
Prior to this, Housing had raised $2.5 million from Nexus Venture Partners in June last year. It had also raised undisclosed amount of funding from former Network 18 Group CEO Haresh Chawla in March 2013 and an undisclosed amount of angel investment led by Chaupaati Bazaar co-founder Zishaan Hayath and participation from other investors like Vaibhav Puranik, Shishir Kapoor, Hemanth Goteti, Gagan Goyal, Harsh Baid, Aditya Agarwal and Aatif Misbah in February 2013.
Founded in 2012, Mumbai-based Housing.com is a map-based property listing portal, which allows users to search for rental apartments, hostels, PGs, flats and property purchase listings, overlayed on a map. One can sort these listings based on price or filter these listings based on property type, pricing, furnishing, number of rooms, bathrooms, beds and availability of features like Lift, Gym, Security and Parking among others.
The company claims that it has already mapped over 80,000 houses in Mumbai, and over 50,000 houses in Bangalore, which apparently constitutes more than 5% of total houses in both cities respectively.
It has also recently forayed into Tier-II cities and is now present in 25 different cities with the recent additions being Ahmedabad, Jaipur, Indore, Nagpur, Trivandrum, Kochi, Nashik, Vadodara, Surat, Vijaywada, Mangalore, and Chandigarh.
On the product front, Housing had launched a new projects section earlier this year, that allows real estate developers to publicise properties that are under construction or brand new on a 3D map interface. It had also introduced a map-based listing of real estate agents last November, to help property seekers find a real estate agent in their locality.
Competitors: Housing’s competitor CommonFloor had raised Rs 64 crore from existing investors Tiger Global and Accel India in January this year and had acquired student accommodation portal Flat.to in April this year. IndiaProperty.com had also raised $12 million from Bertelsmann India Investments and existing investor Canaan Partners in December last year.
Other players in this segment include Times Business Solutions’ property listing portal MagicBricks, Info Edge’s 99Acres, TTK Group’s Home Shikari who have subsequently rolled their own respective maps-based search offerings.