Blox raises $12 million from investors including CRED’s Kunal Shah
Technology-based real estate buying platform Blox has raised $12 million or nearly Rs 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 utilize 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 through its comprehensive home-buying experience. It assigns a relationship manager to every homebuyer to assist with virtual and physical site visits across the city.
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Digital real estate platform Blox has acquired an 11% stake in advisory firm the Guardians for $12 million or over Rs 101 crore, with plans to increase its ownership to 50% over the next three years.
Shivani Karia Jhaveri, the Co-founder and CMO of the fast-growing online home-buying platform Blox, attended Realty+ Women Icon Conclave & Awards 2023 hosted on 8th June. As a panelist for the fireside chat on ‘Being Champions of Change in Tech World,’ she emphasized the crucial need for rapid technology adoption and adaptation within the real estate industry.
Blox, an online home buying platform, is excited to announce its strategic partnership with VDV Developers for two assets valued at $100 million, located in Tardeo and Mulund. These assets, covering an area of about 2,10,000 sqft, will be launched this calendar year.
This partnership is a part of Blox’s REaS / development management platform, which aims to target $500 million worth of revenue potential projects over the next three years. Blox has already launched its first project under this platform with VDV Developers, where they will execute and sell real estate projects. The first development, a 41-storey architectural masterpiece known as “The Altitude," is located in Tardeo, with plans for the next project in Mulund towards the end of this year.
In just 60 days since its launch on March 9th, The Altitude has seen over 2000 customer walk-ins and is projected to generate approximately $30 million in revenue this calendar year. Blox’s blox.xyz platform has a network of 8000+ RERA registered channel partners, in addition to D2C sales directly from its platform www.blox.xyz.
