India Property Online Pvt. Ltd. one of India’s leading online real estate
classified portals, has announced a Series B funding of USD 12 Million led by
Bertelsmann with participation from existing investors Canaan Partners and
Mayfield Fund..
IndiaProperty.com offers one-stop
property marketing solutions serving builders, real estate agents and home
owners to sell or rent their properties, while offering a feature rich
interface for property buyers to search and identify properties that match
their requirement.
IndiaProperty has pioneered several innovations such as
Assisted Property -India's first online assisted property search service,
Gruhapravesh - India's first series of virtual and offline property shows and
India's first augmented reality based Real Estate Mobile Application. The
company was founded by Murugavel Janakiraman who also founded Matrimony.com,
India’s largest online matrimony classifieds platform.
 |
| Ganesh Vasudevan |
Mr. Ganesh Vasudevan, CEO of
IndiaProperty, expressed his delight at Bertelsmann‘s
investment: “It is great to have Bertelsmann as a partner by our side. Over the
last two years we have emerged as the fastest growing player in the industry,
operating in the top 20 cities in India and intend investing the capital raised
into growth initiatives. Our existing investors, Canaan and Mayfield, have also
participated in this round - an endorsement of our strategy and execution.”
 |
| Murugavel Janakiraman |
Mr. Murugavel Janakiraman, founder and
Chairman of IndiaProperty, said: “IndiaProperty was
conceptualized with a vision of becoming the largest and foremost player in the
real estate classified market and we are well and truly on our way to realizing
that vision. The addition of a global media powerhouse like Bertelsmann as an
investor and partner will help us further consolidate our position in the
market.”
Mr. Pankaj Makkar, Managing Director,
Bertelsmann India Investments, who will also join the
Board of IndiaProperty, said: “IndiaProperty has attained an attractive
position in the Indian real estate market, especially in the new properties
segment, through its great execution abilities, a differentiated offering for
the customer and all the right attributes to be a leader in this space.
Therefore we are excited to be IndiaProperty’s future partner.”
Veda Corporate Advisors acted as the sole advisors to the Company in
this transaction.
About
IndiaProperty.com
IndiaProperty.com
offers one-stop property marketing solutions serving builders, real estate
agents and home owners to sell or rent their properties, while offering a feature
rich interface for property buyers to search and identify properties that match
their requirement.
IndiaProperty
has pioneered several innovations such as Assisted Property -India's first
online assisted property search service, Gruhapravesh - India's first series of
virtual and offline property shows and India's first augmented reality based
Real Estate Mobile Application amongst others.
www.indiaproperty.com
www.indiaproperty.com
About Bertelsmann India Investments
Bertelsmann India Investments (BII) is
the strategic investment arm of Bertelsmann SE & Co. KGaA in India. It
focuses on investments in the digital, education, media and services sectors.
BII invests in pioneering companies developing new technologies, business
models and visions of the future. It focuses on early stage as well as growth
stage investments.
About Bertelsmann
Bertelsmann is an international media
company whose core divisions encompass television
(RTL Group), book publishing (Penguin Random House), magazine publishing (Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 countries. In 2012, the company’s businesses, with their more than 100,000 employees, generated revenues of €16.1 billion. Bertelsmann stands for a combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.
(RTL Group), book publishing (Penguin Random House), magazine publishing (Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 countries. In 2012, the company’s businesses, with their more than 100,000 employees, generated revenues of €16.1 billion. Bertelsmann stands for a combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.
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