Navanc, an innovative fintech startup specializing in the property tech (proptech) sector, has successfully raised $1 million in its seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP, FirstPort Capital, and a group of prominent angel investors.
The funds will be utilized to fuel Navanc’s expansion across India, with a strategic focus on enhancing its presence in both urban and semi-urban regions. The startup plans to deepen its footprint in key markets, accelerating its growth in the rapidly evolving proptech space.
Revolutionizing Secured Lending and Insurance with AI
Navanc, founded by Nagachethan S M and Byomkesh Jha, is setting new standards in the secured lending and insurance industries with its unique AI-powered property score and stack. This technology is designed to provide accurate, real-time data to facilitate secure and reliable financial transactions.
The platform leverages a combination of advanced technologies, including Artificial Intelligence (AI), Internet of Things (IoT), and Blockchain, to ensure transparency, security, and efficiency in property-related transactions. One of its standout features is its use of AI and Machine Learning (ML) models to enhance collateral reporting, improving credit decision-making and portfolio management for the banking, financial services, and insurance (BFSI) sector.
By providing actionable insights into property value and risk, Navanc is bridging the gap between traditional real estate practices and modern, technology-driven financial solutions. This has made it an invaluable partner for financial institutions looking to streamline their operations and enhance lending accuracy.
AI-Driven Expansion with Generative AI and Computer Vision
Navanc is also making significant strides in integrating cutting-edge technologies into its platform. The startup plans to ramp up its AI FinTech capabilities by incorporating Generative AI and Computer Vision models into its property scoring and reporting systems. These technologies will enable even more accurate assessments of properties, allowing lenders and insurers to make better-informed decisions based on data-driven insights.
Generative AI can play a key role in generating predictive models and simulations, which can aid in forecasting property values and assessing risk, while Computer Vision will enhance the platform’s ability to analyze images and videos of properties for more precise evaluations.
A Vision for Nationwide Expansion
Currently, Navanc is operational across several states in India, covering multiple tiers of cities. With its ambitious “Bharat Vision,” the company aims to expand its reach to all states in the country, bringing its AI-powered proptech solutions to a wider audience. This nationwide expansion will allow Navanc to become a significant player in the Indian proptech and fintech sectors, providing crucial tools for both lenders and insurers across the country.
By leveraging state-of-the-art technologies and expanding its operations, Navanc is poised to transform the landscape of secured lending and insurance in India. The combination of its innovative AI-driven solutions and its focus on nationwide accessibility sets the startup apart as a key player in the future of fintech and proptech in India.
