Bengaluru-based proptech startup Landeed has raised $8.3 million U.S. in a seed round led by Draper Associates, Y Combinator and Bayhouse Capital.
According to a report, Landeed intends to channel the proceeds towards new recruitment and technological improvements. Founded in 2022, by ZJ Lin, Sanjay Mandava and Jonathan Richards, Landeed specializes in standardized property-documentation retrieval systems. It aims to streamline the title retrieval process by providing easy access to all stakeholders — owners, agents, developers and legal advisors — through a common platform.
“We built a standardized interface simplifying the multiple search methods across states into an intuitive and fluid user experience. This unique proposition has led our team to witness impressive revenue growth,” said Sanjay Mandava, CEO and co-founder of Landeed. Within four months of launch, the startup received 1.7 million searches for land titles across the seven states in which it operates.
Last August, Landeed raised about $2.5 million U.S. in a pre-seed funding round led by Clutterbot CEO Justin Hamilton, Cred’s Kunal Shah, Chris Maurice of Yellow Card and Christian Kaczmarczyk of Third Prime VC. That round happened a couple of months after Terralytics (later rebranded to Teal), another startup specializing in real estate intelligence, received capital from Info Edge India Ltd.
In India, land ownership is based on a “presumptive titles” model. A prospective buyer cannot easily access the title documents before engaging the owners or brokers. There are many instances of fraud due to the lack of transparency. Startups such as Landeed hope to increase access to title deeds, enhance transparency and improve trust levels in land transactions.