SUMMARY
- HouseEazy has successfully secured a funding of approximately $7 million or Rs 58 Cr in Series A led by Chiratae Ventures Fund.
- Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund also participated in the round.
- The Noida-based company has achieved a valuation of Rs 156 crore or $18 Million post-money.
HouseEazy, an e-commerce platform specializing in pre-owned properties, has successfully secured funding of approximately $7 million or Rs 58 Cr in Series A led by Chiratae Ventures Fund, with contributions from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund.
The company’s board has issued a total of 3,915 shares at a face value of Rs 10 each, with a premium of Rs 85,666 allocated to a select group of investors, as detailed in its regulatory filings.
Chiratae Ventures has contributed a sum of Rs 29.62 crore, while Antler Innovation Fund has contributed Rs 2.86 crore. IA Growth Opportunities Fund and Veena Jindal have each invested Rs 76.25 lakh and Rs 29 lakh, respectively.
HouseEazy has achieved a valuation of Rs 156 crore or $18 million post-money, with an expected adjustment in valuation in response to potential additional capital raises.
In June 2022, the Noida-based company raised $370,000 in pre-seed funding, while in December 2023, it secured $1 million in its seed round.
Established in 2021 by Tarun Sainani and Deepak Bhatia, HouseEazy is in the development phase of a comprehensive, data-driven technology platform. The platform is designed to offer the highest possible prices and instant liquidity to sellers while providing buyers with title-checked, refurbished, and ready-to-move-in homes.
The company employs a proprietary machine-learning algorithm, supported by over 1.25 million data points, to provide real-time price offers, thereby streamlining the process for sellers by eliminating the need for multiple meetings and negotiations.
In December, HouseEazy announced its achievement of an ARR of Rs 250 crore (gross merchandise value) while maintaining profitability. The firm is optimistic about reaching an ARR of Rs 1,000 crore in the NCR market alone by March 2025.
HouseEazy recorded Rs 2.78 crore in operating revenue, with a loss of Rs 44 lakh in FY23.
Source: Entrackr
