Property title search engine, Landeed bags Rs 19.5 crores in a pre-seed funding round

August 10, Bengaluru: Landeed, on Wednesday announced that it has bagged Rs 19.5 crores (USD $2.5 million) in pre-seed funding round. The round was led by Justin Hamilton (CEO, Clutterbot) Goodwater Capital, Olive Tree, Kunal Shah (CRED), Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC) and AVCF Fund and 9 Y Combinator alum. The Bangalore-based company plans to use the funds to expedite product development as well as build a comprehensive and standardized property documentation retrieval system.  

Commenting on the announcement, the founders in a joint statement said, “Title insurance alone is a nearly $25b market in the US and has recently been introduced in India. We believe there a lot larger segments to tap in India beyond title insurance and in the coming months, we are planning to enable property title embedment on the blockchain.”

Speaking on the investment, Manmohan Chandolu, an early investor at Landeed, said – “Landeed is solving a very difficult and serious problem that no other company tried to solve. The large problem statement coupled with the marvellous team made me confident that Landeed was indeed a worthy investment.”

“Been really impressed with the Landeed team and their ability to iterate fast and execute quickly on product development. They’re going to become a critical piece to ensuring smooth real estate transactions in India and over time more emerging markets. On top of that, their ability to leverage web3 technology will only make the solution more permanent and transparent,” added Christian Kaczmarczyk, Principal at Third Prime.