Chandigarh-based Proptech Start-up POPT Secures Funding From MRW Ventures and Riar Holdings At USD 2 million Valuation

PROPT, a Chandigarh-based proptech focused on delivering digital solutions to India's real estate market, announced a USD 2 million pre-seed fundraising round headed by MRW Ventures and Riar Holdings.

PROPT intends to utilise the funding for research and development, statistical analysis, and standardisation, as well as for the creation of a full-stack SaaS-based IT solution for retail customers and sellers, developers, brokers, and real estate organisations.

Along with these investors from Canada, the startup obtained money from seven Indian angel investors.

Manpreet Singh, co-founder and managing director of POPT, feels that the new generation of Indian real estate purchasers has a global view and is prepared to sell or even flip their present properties if the appropriate match is discovered.

POPT simplifies, personalises, and streamlines the online property search process for India's new generation of property purchasers.

POPT's platform, which was launched in December 2021, is supposed to make it easier for buyers and investors to discover the suitable property. Its objective is to standardise, index, place, and value properties based on lifestyle, luxury, and experience aspects.

Existing functionality including listing, filtering, searching, and a marketplace are planned to be integrated as well on POPT.

The Indian online real estate and proptech segment has been seeing a lot of action in recent months and this latest round of funding in a property tech start-up will bring positive vibes to the entire real estate industry in India.