Landeed, a rapidly growing proptech startup, announced on Tuesday that it has successfully raised funds in a strategic financing round led by Paradigm Shift VC. While the exact amount of the investment was not disclosed, the company stated that the new capital will be instrumental in extending its product line and expanding its workforce to support its growth both in India and internationally.
Landeed, founded by Sanjay Mandava, ZJ Lin, and Jonathan Richards, has been making significant strides in the proptech sector with its innovative mobile app. The app allows property owners, agents, developers, and legal advisors to easily access real estate records, facilitating the building, lending, and transacting of properties.
In January 2023, Landeed raised $8.3 million in a funding round led by Y Combinator, Draper Associates, and Bayhouse Capital. The startup has continued to innovate, recently launching an AI Property Analyser. This new feature provides a comprehensive ownership history of properties, detailing every transaction and encumbrance from the initial owner to the most recent.
“Though we weren’t actively raising funds, were heavily oversubscribed in the last round, and still had the majority of our previous round’s funding intact, we decided to move forward with their investment due to our strong relationship (with Paradigm Shift). We will use this additional firepower to expand our consumer-side offerings and scale our engineering team,” said Sanjay Mandava, Co-founder and CEO of Landeed.