Free Press Journal raises Rs 115 crore from VC firms


Mumbai: Property portal today said it has raised Rs 115 crore from various venture capital firms in its fourth round of funding.

Venture capital firms like Helion Venture Partners, Nexus Venture Partners and Qualcomm Ventures have together invested Rs 115 crore in, a release issued here said.

While Helion has pumped in Rs 48 crore, Nexus has invested Rs 43 crore and Qualcomm Rs 24 crore, it said.

“The latest pool of funding will be utilised to expand the company’s new projects, extend its technology to new platforms, and accelerate its branding and marketing activities,” company’s co-founder Advitiya Sharma said.

The additional funding reaffirms the company’s growth story, and we will leverage funding to increase our investment in new projects and the backbone technology, he said.

The first three rounds of funds were raised from former Network18 CEO Haresh Chawla, a group of angel investors, led by Zishaan Hayath, co-founder of phone commerce company Chaupaati Bazaar and Nexus Venture Partners.

The company is now present in 25 different cities, including Mumbai, Delhi, Gurgaon, Hyderabad, Pune, Bengaluru, Noida, Ghaziabad, Faridabad, Chennai, Kolkata, Ahmedabad, Jaipur, Indore, Nagpur, Trivandrum, Kochi, Nashik, Vadodara, Surat, Vijaywada, Mangalore and Chandigarh among others.

Set up in 2012 by a group from IIT Bombay, the firm enables real estate brokers to upload unlimited listings on the site while users can search properties for free.

The company is also mapping houses to enable buyers and sellers locate their desired properties. has already mapped over 80,000 houses  in Mumbai, and over 50,000 houses in Bangalore.

“This number constitutes more than five per cent of the total houses in both cities, respectively. Few months back, we used to list 200 houses per day, and now we list over 2,000 houses per day. Soon we will be mapping 10,000-12,000 houses every day. Over the next two years, we plan to map one crore houses on our website,” Sharma said.