Zapkey, a proptech startup, has raised pre-Series A funding led by the DSP Group Family Office. The fresh funding will be utilised to fuel geographical expansion and strengthening the tech, the company said in a statement.
The amount raised in the round was not disclosed by the company.
The round also saw participation from existing investors Gruhas Proptech and the DLF Family Office.
Founded by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman in 2020, Zapkey is a home sale guarantee platform that claims to provide its customers with guaranteed home sales within three months of the listing date.
Their pricing is driven by proprietary algorithms, which track one crore- plus property registration records. Over the past year in its first market, Zapkey has attracted over 8,000 home sellers to its platform and engages more than 2,500 local brokers as part of its distribution network.
“We couldn’t be more excited to have DSP join our cap table. Easily one of the most powerful names in Indian finance, their access, and support is only going to help compound our growth as we open new markets”, said Shubhankar.
“The pedigree of the founders of Zapkey gave us maximum confidence to invest. Add to that the size of the total addressable market and the product market fit that they’ve achieved over the past year checked all our boxes”, added Shuchi Kothari of DSP.
Last year Zapkey had secured $2 million in seed funding led by Nikhil Kamath and Abhijeet Pai-backed Gruhas Proptech.
Others in the funding round included DLF Family Office, Blume Founders Fund, Alkem Labs Family, Aprameya Radhakrishna (co-founder, Koo), Srini Sriniwasan (MD, Kotak Investment Advisors), the company had said.
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