Truva, a cutting-edge real estate technology platform, has successfully raised $3 million in a funding round led by Stellaris Venture Partners, an early-stage venture capital firm. The round also saw participation from notable angel investors, including Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori, and Groww founder Lalit Keshre, among others.
The fresh capital infusion will be utilized for team expansion, product enhancement, raising debt for working capital, and scaling operations across key markets.
Founded in 2023 by Puneet Arora, Monil Singhal, and Ankit Gupta, the Mumbai-based startup has quickly made a mark in the proptech space by offering detailed property listings with extensive insights and comprehensive support for buyers. This includes assistance with financing, paperwork, and registration. Truva also offers innovative features like natural light scores, noise ratings, 3D tours, and high-quality photos and videos to elevate the home-buying experience.
“With our approach of prioritising buyer experiences, we aim to reduce the overall complexities involved in real estate transactions, thus accelerating the home-buying process,” said Puneet Arora, co-founder of Truva. Since its launch earlier this year, the platform has facilitated transactions worth over Rs 30 crore in Powai, Mumbai. Its average time to sell a property is 19 days, compared to the market average of nine months, according to Arora.
Currently, Truva operates in Powai and Bandra in Mumbai and plans to expand its reach to other areas within the city over the next year.
Ritesh Banglani, Partner at Stellaris Venture Partners, expressed his confidence in Truva’s potential: “With rising disposable incomes and rapid urbanisation, housing demand will continue to expand. To realise the potential of this growing market, we believe that there is a need for significant improvements in the buying experience. In Truva, we found a team deeply committed to understanding customer insights and building a product that offers an unparalleled home-buying experience.”
Truva’s successful funding round comes amidst a period of increased investor interest in the proptech sector. On July 11, prop-tech startup Jugyah raised $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties. Similarly, Landeed, a platform for property title search engines, secured strategic financing led by Paradigm Shift VC in June. Earlier in March, Aeria, a tenant experience and asset management platform for commercial real estate, raised $1.8 million in pre-seed funding led by Kalaari Capital, Foundamental, AC Ventures, and AL Trust, among others.