A startup in India that focuses on property records, Landeed, has raised $8.3 million in a funding round. The funding was led by Draper Associates, Y Combinator, and Bayhouse Capital. Landeed plans to use the funding to hire staff and enhance its technological infrastructure as it seeks to create a comprehensive property title search engine and become a real estate transactions hub.
Landeed’s CEO and co-founder, Sanjay Mandava, explained that the startup has integrated multiple government departments across various states to produce a property summary data similar to Plaid. The platform allows users to verify a property transaction ledger going back 20 years in two seconds, thereby simplifying property due diligence for all parties.
Landeed, which was established in 2022, aims to streamline property due diligence in a country where 67% of all court cases are related to land disputes. The company closed its oversubscribed seed round on Tuesday, following a pre-seed round six months ago from a group of investors, including Justin Hamilton (CEO, Clutterbot), Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC), AVCF Fund, and nine Y Combinator alumni.
