The property technology firm Homesfy announced that it had raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.
This funding announcement comes ahead of its expected first public offering (IPO).
The company has filed its draft red herring prospectus (DRHP) for an SME IPO to NSE Emerge. The business stated that it would use the funds to advance its plans to enter global markets and promote its expansion across several Indian cities.
The company was founded a decade ago and has its headquarters in Mumbai. It operates in four Indian cities, including Pune, Bengaluru, and Delhi NCR.
It just began the process of acquiring Mumbai-based real estate brokerage company EQServ.
“We at Homesfy, started our journey with the aim to simplify the home-buying process. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers,” Ashish Kukreja, Founder & CEO at Homesfy.in & MyMagnet.io, said.