Landeed, a Hyderabad-based property title search engine platform, has successfully raised funds from Paradigm Shift VC. This marks a significant milestone for the startup, which previously raised $8.3 million in a funding round led by Y Combinator, Draper Associates, and Bayhouse Capital in January 2023.
Sanjay Mandava, Co-founder and CEO of Landeed, stated, “The new capital will be utilised to increase Landeed’s product line and further enhance its workforce expansion to support its expansion plans in India and abroad.” The additional funds are expected to bolster the company’s efforts to expand its offerings and scale its engineering team.
Landeed has made a substantial impact in the real estate sector by providing property owners, agents, developers, and legal advisors with access to comprehensive real estate records. These records are crucial for building, lending, and transacting properties. The platform has registered over 5 million downloads, making it the largest title search engine in the country.
“Over 100,000 property owners and agents have already utilised Landeed’s platform to buy, sell, and build real estate, underscoring the startup’s significant impact on the industry,” Mandava added. The startup’s recent launch of the AI Property Analyser has further enhanced its service offerings. This tool provides a complete ownership history of properties, from the initial owner to the most recent, including any transactions or encumbrances.
Despite not actively seeking additional funds, Landeed decided to accept the investment from Paradigm Shift VC due to a strong existing relationship. “Though we weren’t actively raising funds, we decided to move forward with their investment due to our strong relationship. We will use these additional resources to expand our consumer-side offerings and scale our engineering team,” Mandava explained.
The real estate technology sector in India has seen rapid growth, and Landeed’s innovative approach is a testament to this trend. The company’s ability to secure significant investments highlights its potential to further disrupt and enhance the industry. By leveraging advanced technologies like AI, Landeed is not only simplifying the process of accessing property records but also ensuring transparency and efficiency in real estate transactions.
Landeed’s success also reflects a broader trend of increasing investor interest in proptech startups. With its robust growth strategy and focus on innovation, Landeed is well-positioned to lead the market and set new standards in the property search and transaction space.