Zapkey, a proptech startup, has raised pre-Series A funding led by the DSP Group Family Office. The company plans to use the fresh capital to fuel geographical expansion and strengthen the tech.
The company did not disclose the amount raised in the round.
Existing investors Gruhas Proptech and the DLF Family Office participated in part in the round.
In 2020, Shubhankar Dongre, Sandeep Reddy, and Raja Seetharaman founded Zapkey, a company that claims to guarantee home sales for customers within three months of the listing date.
Their pricing is determined by proprietary algorithms that monitor more than one crore property registration records. In its first market, Zapkey has engaged more than 2,500 local brokers in its distribution network and attracted over 8,000 home sellers to its platform over the past year.
“We couldn’t be more excited to have DSP join our cap table. Easily one of the most powerful names in Indian finance, their access, and support is only going to help compound our growth as we open new markets”, said Shubhankar.
“The pedigree of the founders of Zapkey gave us maximum confidence to invest. Add to that the size of the total addressable market and the product market fit that they’ve achieved over the past year checked all our boxes”, added Shuchi Kothari of DSP.
Last year Zapkey secured $2 million in seed funding led by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech.
According to the company, the funding round includes the DLF Family Office, Blume Founders Fund, Alkem Labs Family, Aprameya Radhakrishna (co-founder of Koo), and Srini Sriniwasan (MD, Kotak Investment Advisors).