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Proptech Startup Blox Raises $12 Million In Funding

Blox, an online real estate marketplace, has raised Series A funding of $12 million (around Rs 102 crore) from a clutch of existing Silicon Valley investors as well as new investors and angels, including fintech unicorn Cred’s founder Kunal Shah. 

Operated by Method and Madness Technology Pvt. Ltd, Blox plans to deploy the freshly raised funds for market expansion, boosting product portfolio and building its data infrastructure. 

Blox | Buy Homes Online

Founded by Aditya Jhaveri in 2020, Blox is a fully integrated real estate buying platform that addresses the pain points in the real estate market and makes transactions in the space seamless.

The online real estate marketplace enables users to buy a home in less than 7 clicks, making it one of the most user-friendly platforms in India.

Speaking about the development, Aditya Jhaveri, Founder and CEO at Blox, said, 

“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 investors’ faith in our vision to 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.”

Aditya Jhaveri, Founder and CEO at Blox

The consumer-centric real estate buying platform allows buyers to browse and compare verified inventory directly listed by developers. After shortlisting a property, customers can visit the place, finalize, and complete other mandatory processes digitally, including paperwork, stamp duty payments, registration, and loan assistance.

As per the founder, the Indian real estate sector has massive untapped potential, and Blox is proud to be at the forefront of this growth opportunity.

In April 2021, Brad Bao, the co-founder of electric scooter startup Lime and managing partner at Kinzon Capital, invested an undisclosed amount in Blox

According to the ‘Real Estate 3.0: Technology-led growth’ report by CII and Colliers, investments in the proptech firms are expected to cross $1 billion in 2025, 2x from the 2020 level. This year, several proptech startups, including Homesfy RealtyZapkey and POPT, raised funds.

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