Blox bags Rs 100 crore from CRED's Kunal Shah, others

Mumbai: Technology-based real estate buying platform Blox has raised $12 million, or nearly ₹100 crore, in a series A funding round - the largest in the proptech sector in India. This funding round was backed by its existing investors from Silicon Valley, new strategic investors and angels, including Kunal Shah, founder of CRED.

The company is planning to utilise the funds raised for market expansion, boosting the product portfolio, and building data infrastructure across customers, brokers, and developer segments.

Blox is a fully integrated online real-estate service that allows customers to make their home-buying experience as seamless as possible. It provides instantaneous site visits along with complete transparency and convenience. It assigns a relationship manager to every homebuyer to assist with virtual and physical site visits across the city.

"We are stoked to receive this round of funding from our existing Silicon Valley investors, new strategic investors, and angels, along with Kunal Shah. It reaffirms their faith in our vision to lead India's property technology transformation and disrupt the $100 billion real estate market. Blox was conceptualized with the aim to democratize real estate by keeping customers at the centre of the equation and making real estate purchases joyful again, by delivering the end-to-end purchase process," said Blox founder and CEO, Aditya Jhaveri.