Mumbai-based Proptech Startup Jugyah Secures $1.5 Million in Funding

Mumbai-based proptech startup Jugyah has raised $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties. Other participants included Whiteboard Capital, Singularity Ventures, and notable angel investors like Kunal Shah of Cred, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace.

Expansion Plans

This new funding will support Jugyah’s expansion within the Mumbai Metropolitan Region and help increase its market share.

Founders and Operations

Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah functions as a real estate brokerage platform connecting property buyers and tenants with sellers and landlords. Additionally, it features an in-house mortgage origination arm, offering financing options to its users.

Comprehensive Real Estate Services

Jugyah aims to streamline the home sale and rental process by integrating various services such as visit scheduling, negotiation, transaction facilitation, and post-move-in support through both digital and physical platforms. Co-founder Arshad Balwa highlighted the need to re-architect the entire value chain of home sales and rentals to address common issues faced by buyers and renters.

Enhancing the Transaction Process

Jugyah’s platform offers several services to improve the real estate transaction process. Tenants undergo an e-KYC procedure and credit assessment, ensuring landlords receive credit-verified tenants. Buyers benefit from features such as free seepage warranties, free legal support, and zero-commission mortgage pre-approval.

Offline Support

To further assist customers, Jugyah has established offline experience centers in South Mumbai and Navi Mumbai, where agents provide personalized assistance.

Investor Perspectives

Sandeep Patil, head of Asia at QED Investors, expressed enthusiasm about Jugyah’s vision to solve challenges faced by buyers, renters, landlords, and agents. He praised the founders’ insights, networks, and energy, which aim to improve the everyday lives of middle-class individuals in growing metropolitan areas.

Competitive Landscape

Jugyah competes with other prominent players in the market, including NoBroker, Property Guru, and Housing.

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