Real estate aggregator platform Square Yards has raised $12 million from the private equity arm of Reliance Group. The company will use the funding for expanding its distribution network in India and internationally.
The startup had previously raised $11 million from a clutch of high net worth investors last year. Founded in 2013, it currently operates in over 25 countries and primarily caters to the NRI market. Note that earlier this year Square Yards had opened new offices in Sydney, Australia and Muscat, Oman, to scale its international operations.
Other than listing real estate on its website, Square Yards also offers an Android and iOS app. The app displays various interesting metrics like the average price per square feet in a particular region, the over-time trends in prices in the area, other than various metrics like connectivity and distances from important services. The app lists over 6000 projects with details like amenities, price trends and unit plans.
Note that Square Yards had acquired Oryden TechLabs, a design and animation studio from Ahmedabad, for an undisclosed amount, in October last year. Oryden’s specialisations included 3D architectural design, process visualisation and virtual reality, which would help Square Yards enhance its design development.
Competitors in the real estate sector include DB Corp’s recently launched Homeonline.com, Housing, which launched Housing News this year and other like MagicBricks Now, Quikr Homes etc. Our real estate coverage here.