Bengaluru: Bengaluru-based homebuyer advisory platform Propsoch has raised $2 million in a funding round led by Athera Venture Partners, Sparrow Capital, and Vakil Group.
The fresh capital will be deployed to strengthen the firm’s research and advisory capabilities, expand its team across functions, and support market expansion, the company said in a release.
Founded in 2022 by Ashish Acharya and Ravi Agrawal, Propsoch is a buyer-centric real estate advisory platform that combines proprietary data analytics, industry expertise and consumer reviews to offer unbiased recommendations to homebuyers. The company had previously raised about $600,000 from investors, including family office investment arms of the Godrej Group, according to market intelligence platform Tracxn.
“After successfully advising more than 1,500 families in Bengaluru, we are now scaling our ability to service nearly 10,000 homebuyers this year. This funding round helps us deepen our roots in our home market while we expand our footprint into Mumbai,” said Ashish Acharya, founder, Propsoch.
Ravi Agrawal, cofounder, said the company is training its AI workflows on multiple years of customer interactions, architectural, and geospatial data.
The company aims to eliminate homebuyer regret, a problem it says affects three in four Indian buyers, within five years.India’s proptech ecosystem has witnessed significant growth in recent years, driven by rising consumer demand for transparency and efficiency in real estate transactions.
The sector is currently valued at approximately $1.5 billion and is projected to reach $3 billion by 2030, driven by an ongoing shift toward integrated, full-stack transactional models, according to a recent report.
“This market has been plagued with misaligned incentives where customers were being pushed the highest commission option rather than the best option for them,” said Yash Jain, partner, Bengaluru-based venture capital firm Sparrow Capital, who believes that the firm will flip that equation.