Blox raises USD 12 million in Series A funding round
Largest proptech sector investment, Silicon Valley-based investors double down in new round of funding
Mumbai, December 2022: Proptech start-up, Blox, announced today that it has raised USD 12 million in a Series A funding round – the largest in the proptech sector in India. This round was backed by earlier Silicon Valley investors and new strategic investors and angels, notably Kunal Shah, founder of CRED. The funds will be utilized by Blox for market expansion, boosting the product portfolio, and building data infrastructure across customer, broker, and developer segments.
Blox is a fully integrated online real-estate service that allows customers to make their home-buying experience as seamless as possible. Blox provides instantaneous site visits along with complete transparency and convenience through its comprehensive home-buying experience. A Relationship Manager is assigned to every home buyer to assist with virtual and physical site visits across the city. To sustain and further develop their capabilities, this round of funding will enhance the product development frameworks and streamline technologies to build a superior customer experience. It will also be utilized to expand Blox’s presence through market expansion and penetration, allowing Blox to service more developers and create a higher property density for customers to view more projects that are being serviced actively by the company.
Blox Founder and CEO, Aditya Jhaveri, commented, ‘We are stoked to receive this round of funding from our existing Silicon Valley investors, new strategic investors and angels, along with Kunal Shah. It reaffirms their faith in our vision to lead India’s property technology transformation and disrupt the USD 100 billion real estate market. Blox was conceptualized with the aim to democratize real estate by keeping customers at the center of the equation and making real estate purchases joyful again, by delivering the end-to-end purchase process.
We understand that buying a home is the biggest decision for a family and we want to make sure that our customers have access to the best possible data insights, allowing them to make informed decisions based on transparency and trust. The Indian real estate sector has massive untapped potential and we are proud to be at the forefront of this growth opportunity. This round of funding bolsters our position as a market leader and gives impetus to our customer-driven approach.”
Since its launch in 2020, Blox has been making waves in the real estate industry with its unique approach to home buying. The platform enables users to buy a home in less than 7 clicks, making it one of the most user-friendly platforms in India. With this latest round of funding, Blox is well-positioned to continue its growth trajectory and emerge as a leading player in the real estate space.
Blox is India’s first technology-based and consumer-centric real estate buying platform. It has built on its reputable stature and has gained the attention of several leading investors. Through its fully integrated online-to-offline system, Blox is revolutionizing the way Indians perceive buying and selling real estate. Blox also allows clients to compare properties fairly; owing to its price transparency, which has led to increased customer loyalty and satisfaction.