Proptech startup Jugyah has secured $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties. Whiteboard Capital, Singularity Ventures, and angel investors like Cred founder Kunal Shah, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace also participated.
With these new funds, Jugyah plans to expand its reach within the Mumbai Metropolitan Region and grow its market share.
Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah is a real estate brokerage platform connecting property buyers and tenants with sellers and landlords. The platform also offers extra services, including an in-house mortgage origination arm that provides financing options.
“To truly solve the home buyer and renter’s problems, we had to re-architecture the entire home sale and rental value chain from first principles. We realized that listing platforms are very surface level and barely solve the search and discovery problem. What happens after, that is the visit, negotiation, transaction and post move-in experience, is completely offline and unstandardized,” said Balwa, cofounder of Jugyah.
“By vertically integrating all the five steps through a digital platform with a physical experience center and embedding a fin-tech layer to remove nuisances and adding features such as legal assistance, loan financing we realized we could create an affordable, truly 10x, phygitally enabled method of finding a home. The goal is to make real estate brokerage a standardized product instead of a variable quality service.”
All tenants on the platform must complete an e-KYC procedure and credit assessment, helping landlords choose credit-verified tenants. Buyers benefit from free seepage warranties, free legal support, and zero-commission mortgage pre-approval.
Jugyah has set up offline experience centers in South Mumbai and Navi Mumbai, where buyers, sellers, tenants, and landlords can get help from Jugyah’s agents.
The company claims it is growing over 50% month-over-month and expects to be positive cash-flow by year-end.
Additionally, Jugyah noted that India’s long-term rental and resale market is estimated to reach $300 billion by 2026, with the brokerage and property management market expected to hit $20 billion by the same year.
“We are excited about Jugyah’s vision to comprehensively solve challenges that buyers, renters, landlords and agents face in today’s marketplace. Arshad and Ansuman bring to bear insights, networks, and energy which can truly make a difference in the everyday lives of middle-class India in growing metropolises – we can’t wait to see what they will build here,” Sandeep Patil, head of Asia at QED Investors.
Jugyah’s major competitors include Nobroker, Property Guru, and Housing.
