Blox raises $12 million in Series A funding, aims to expand business across India in 24 months

Proptech start-up, Blox has raised $12 million in its Series A funding round. The venture claims it is the largest Series A round in the proptech sector in India.

This round was backed by its earlier Silicon Valley investors and new strategic investors and angels, notably Kunal Shah, founder of Cred. The funds will be used by Blox for market expansion, boosting product portfolio, and building data infrastructure.

Aditya Jhaveri, founder and CEO of Blox in an interview with CNBC-TV18 said that they plan to expand their business across India over the next 24 months.

“We have grown significantly in Mumbai city. In the next 18-24 months we would want to go across India and provide the e-commerce type functionality to home-buying transactions. On the product side, we plan to double down heavily and build an intelligent system driven by data. So we want every stakeholder in the system to have data insights and therefore make the transaction journey as informed as possible for all stakeholders," Jhaveri said.

Also, Raghav Verma, co-founder of Chaayos spoke about the company’s recent fundraise of $53 million and the road ahead. As per an Entrackr report, Chaayos posted a 145 percent revenue growth in FY22. The report says the company has scaled 2.45x to Rs 135 crore in FY22 while the company's losses spiked by 36.5 percent to Rs 71 crore in the same period.

Moreover, Rashi Gupta, Founder of Rezo.AI spoke about the company’s fundraising plans and how it aims to tap into the Bharat opportunity by providing customised communication solutions in regional languages.