Proptech startup HouseEazy has successfully raised Rs 33.5 crore (approximately $4 million) in its Series A funding round. The round was led by Chiratae Ventures Fund, with additional investments from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund. This infusion of capital marks a significant milestone for the Noida-based company, which specializes in the online marketplace for pre-owned homes.
According to the company’s regulatory filings with the Registrar of Companies, the board at HouseEazy has issued a total of 3,915 shares at a face value of Rs 10, with a premium of Rs 85,666 per share on a preferential basis through private placement. Chiratae Ventures led the round with a substantial investment of Rs 29.62 crore. Meanwhile, Antler Innovation Fund contributed Rs 2.86 crore, IA Growth Opportunities Fund invested Rs 76.25 lakh, and Veena Jindal added Rs 29 lakh to the round.
HouseEazy has demonstrated consistent growth since its inception in 2021. In December 2023, the company raised $1 million in a seed round led by Antler, following a $370,000 pre-seed funding round in June 2022. The company, founded by Tarun Sainani and Deepak Bhatia, is focused on building a full-stack, data-driven technology platform. This platform aims to offer sellers the best prices and instant liquidity while providing buyers with title-checked, refurbished, ready-to-move-in homes.
HouseEazy’s innovative approach is powered by a proprietary machine-learning algorithm that leverages over 1.25 million data points to generate real-time price offers. This technology eliminates the need for multiple meetings and negotiations, streamlining the process for sellers.
In December, HouseEazy reported reaching an annual recurring revenue (ARR) of Rs 250 crore (gross merchandise value), all while maintaining profitability. The company has ambitious plans to scale, projecting to achieve an ARR of Rs 1,000 crore by March 2025, driven by its operations in the National Capital Region (NCR) market alone.
