Mumbai-Based Proptech Start-up Jugyah Secures USD 1.5 Mn In Funding

Mumbai, Jul 12 (KNN) Jugyah, a Mumbai-based proptech start up, has successfully raised USD 1.5 million in a recent funding round. The investment was led by White Venture Capital, QED Investors, and Godrej Properties, with additional participation from Whiteboard Capital and Singularity Ventures.

Notable angel investors, including Cred founder Kunal Shah, Dream Sports' Harsh Jain, and Livspace's Ramakant Sharma, also contributed to the round.

Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah operates as a real estate brokerage platform, facilitating connections between property buyers, tenants, sellers, and landlords.

The company distinguishes itself by offering additional services, such as an in-house mortgage origination arm.

Arshad Balwa, Co-Founder, Jugyah, explained the company's approach, stating, "We've re-architected the entire home sale and rental value chain from first principles. Our platform integrates all five steps of the process through a digital interface with physical experience centres, embedding a fintech layer to streamline transactions."

The platform implements several features to enhance user experience and security. Tenants undergo e-KYC procedures and credit assessments, while buyers receive benefits such as free seepage warranties, legal support, and zero-commission mortgage pre-approval.

Jugyah has established offline experience centres in South Mumbai and Navi Mumbai, where clients can receive in-person assistance from the company's agents.

The start-up reports a monthly growth rate exceeding 50 per cent and projects achieving cash-flow positivity by year-end.

Industry projections suggest that India's long-term rental and resale market could reach USD 300 billion by 2026, with the brokerage and property management sector expected to hit USD 20 billion in the same timeframe.

Sandeep Patil, Head of Asia, QED Investors, expressed enthusiasm for Jugyah's potential, by stating, "We are excited about Jugyah's vision to comprehensively solve challenges that buyers, renters, landlords, and agents face in today's marketplace."

With this new funding, Jugyah plans to expand its reach within the Mumbai Metropolitan Region and increase its market share.

The company faces competition from established players in the proptech space, including Nobroker, Property Guru, and Housing.

As the Indian real estate market continues to evolve, start-ups like Jugyah are poised to play a significant role in shaping the industry's digital transformation.

(KNN Bureau)