Mumbai-based real estate technology startup Truva has raised $3 million in seed funding funds round led by Stellaris Venture Partners.
The round also saw participation from several prominent angel investors including Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori and Groww founder Lalit Keshre.
An innovative approach to the real estate sector
Founded in 2023 by Puneet Arora, Monil Singhal, and Ankit Gupta, Truva is focused on revolutionizing the home buying experience. The startup offers detailed property listings, complete with daylight scores, noise ratings, 3D tours, and high-quality photos and videos.
Additionally, it offers extensive support for buyers, including assistance with financing, paperwork and registration.
“With our approach of prioritizing buyer experiences, we aim to reduce the overall complexities involved in real estate transactions, thereby speeding up the home buying process. Since launching earlier this year, we have facilitated transactions worth over Rs 30 crore in Powai, Mumbai alone. Our average time to sell a property is 19 days, compared to the market average of 9 months,” Arora said.
Purpose of fundraising
With this round of funding, Truva aims to expand its team, enhance its product offering, raise debt for working capital, and scale its operations to meet the growing demands of the real estate market.
Truva’s presence in the market
Truva is currently present in Powai and Bandra in Mumbai and plans to expand its reach to other areas of Mumbai over the next year.
Ritesh Banglani, Partner at Stellaris Venture Partners, said: “With rising disposable incomes and rapid urbanisation, demand for housing will continue to increase. To tap the potential of this growing market, we believe significant improvements to the buying experience are required.” Banglani highlighted Truva’s strong commitment to understanding customer sentiment and its ability to deliver a superior home buying experience as key reasons for the investment.
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