Property Tech Startup HouseEazy Secures $4 Mn in Series A Round

HouseEazy, an online marketplace for pre-owned homes, has raised Rs 33.5 crore (about $4 million) in a Series A round led by Chiratae Ventures Fund, with participation from Veena Jindal, Antler Innovation Fund, and IA Growth Opportunities Fund.

According to HouseEazy’s regulatory filings with the Registrar of Companies, the board issued a total of 3,915 shares at a face value of Rs 10 and a premium of Rs 85,666 on a preferential basis and through a private placement.

Chiratae Ventures contributed Rs 29.62 crore, and Antler Innovation Fund invested Rs 2.86 crore. IA Growth Opportunities Fund and Veena Jindal contributed Rs 76.25 lakh and Rs 29 lakh, respectively.

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According to startup data analytics platform TheKredible, HouseEazy is valued at Rs 156 crore post-money (more than $18 million). The company may raise additional capital during this round, and the valuation will adjust accordingly.

HouseEazy raised $1 million in a seed round led by Antler in December 2023, and they received $370,000 in pre-seed funding in June 2022.

Tarun Sainani and Deepak Bhatia founded HouseEazy in 2021 with the goal of creating a full-stack, data-driven digital platform that will provide sellers with the greatest prices and instant liquidity while also providing purchasers with title-checked, refurbished, ready-to-move-in homes.

The Noida-based startup claims to employ a proprietary machine-learning algorithm with over 1.25 million data points to provide real-time pricing quotes to sellers, avoiding the need for several meetings and negotiations.

In December, HouseEazy claimed that it had achieved an ARR of Rs 250 crore (GMV) while being profitable. The firm intends to generate Rs 1,000 crore in ARR from the NCR area alone by March 2025.

HouseEazy’s operating revenue for the fiscal year ending March 2023 was Rs 2.78 crore, with a loss of Rs 44 lakh.