Hyderabad-based proptech startup Landeed has successfully raised $5 million (approximately rupees 43 crore) in a Series X funding round led by 10x Founders Fund. Prominent investors, including Paradigm Shift, Oliver Jung, and Snapdocs founder Aaron King, also participated in the round. This latest capital infusion builds upon Landeed’s earlier oversubscribed fundraising rounds, which included one of the largest seed rounds by a proptech startup in 2023.
What is Landeed?
Founded in 2022 by Sanjay Mandava, ZJ Lin, and Jonathan Richards, Landeed is transforming property due diligence through innovative technology solutions. The company specializes in property title searches, enabling seamless real estate transactions for property owners, bankers, and developers. Since its inception, Landeed has achieved an impressive 22x growth and empowered over 1 lakh users across the real estate ecosystem.
Previous Funding Highlights
It previously raised rupees 69.3 crore ($8.3 million) in a seed funding round from Y Combinator, Draper Associates, and Bayhouse Capital. Last year, it also secured an undisclosed amount from Paradigm Shift VC. These rounds, combined with the latest funding, underscore the company’s dedication to revolutionizing the real estate industry.
Why is This Funding Significant?
The $5 million funding marks a major milestone for Landeed, as it will enable the company to scale its technological innovations. A significant portion of the funds will support the launch of Landeed Labs, a new division dedicated to advancing artificial intelligence (AI) and machine learning (ML) technologies.
This strategic initiative positions Landeed as a pioneer in transforming property title searches and simplifying real estate transactions. With strong backing from existing and new investors, the funding highlights growing confidence in Landeed’s mission to modernize the real estate sector.
How Will the Funds Be Used?
The secured funds will be directed towards establishing Landeed Labs, which aims to enhance AI and ML capabilities in property transactions. The division will focus on improving efficiency, transparency, and scalability in title searches. Additionally, the funding will support the company’s efforts to expand its user base and strengthen its presence in the global real estate market.
Landeed Co-founder and CEO Sanjay Mandava expressed enthusiasm about the funding and its role in fostering innovation. The founders are optimistic that AI and ML will play a pivotal role in making real estate processes faster, smarter, and more accessible.
Conclusion
With the launch of Landeed Labs, the company is set to redefine industry standards through advancements in AI and machine learning. Backed by strong investor confidence and an ambitious vision, Landeed is poised to not only streamline real estate processes in India but also establish a global footprint in property technology innovation.
