TLDR:
- Truva, a proptech startup, secured $3 million in funding led by Stellaris Venture Partners
- Angel investors such as Myntra founder Mukesh Bansal participated in the funding round
Truva, a real estate technology platform, recently raised $3 million in a funding round led by Stellaris Venture Partners. The funding round also saw participation from angel investors like Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori, and Groww founder Lalit Keshre. The startup, founded in 2023, plans to use the funds for team expansion, product enhancement, raising debt for working capital, and scaling operations.
The Mumbai-based startup, founded by Puneet Arora, Monil Singhal, and Ankit Gupta, provides detailed property listings with various insights and support for buyers, including assistance with financing, paperwork, and registration. Their platform offers features like natural light scores, noise ratings, 3D tours, and high-quality photos and videos, all aimed at streamlining the home-buying process and reducing complexities.
Since its launch earlier this year, Truva has facilitated transactions worth over Rs 30 crore in Powai, Mumbai, with an average time to sell a property of 19 days, compared to the market average of nine months. Operating in Powai and Bandra in Mumbai, Truva plans to expand its reach to other areas in the city within the next year.
Ritesh Banglani, a partner at Stellaris Venture Partners, expressed confidence in Truva’s potential for growth, citing the rising housing demand and the need for improved buying experiences in the market. Several other prop-tech companies have also recently raised funding, indicating a positive trend in the sector.
