Bengaluru-based proptech startup Navanc has secured USD 1 million in a seed funding round led by Prarambh Ventures. The round also attracted participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and several angel investors.
The company said it will use the fresh capital to expand its presence across India. In addition, Navanc plans to strengthen its technology platform by investing in generative AI and computer vision capabilities.
Founded in 2021 by Nagachethan S. M. and Byomkesh Jha, Navanc develops technology that helps financial institutions streamline mortgage underwriting. The startup is also building an asset creditworthiness platform to improve lending decisions.
According to the company, its platform focuses on making property-related transactions more secure and transparent. It also aims to support portfolio management by providing data-driven insights for credit assessment.
Most importantly, the latest funding is expected to accelerate product development while supporting the company's expansion plans. As demand for digital lending solutions grows, Navanc intends to enhance its underwriting platform with AI-driven technologies to improve efficiency and decision-making.
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