Grabhouse, a service offered by Cryptopy Technologies Pvt Ltd, is raising $2 million in a Series A round of funding led by Kalaari Capital. Seed round investor India Quotient will also participate in this round of funding.
Grabhouse is a web platform that helps people find apartments, share rooms, and PG’s on rent without involving brokers. The infrastructure of the website ensures easy access along with multiple options for flats and flatmates.
Grabhouse was founded in 2013 by Prateek Shukla, alumni IIT Kanpur and Pankhuri Shrivastava, Teach for India fellow.
According to analysts tracking the sector, the online portals are expected to grow their share of the pie from the current 10% to nearly 40%.
There are other significant deals in online property search such as Locon Solutions, which raised Rs 115 crore ($18.7 million) in a Series C round from Nexus Venture Partners, Qualcomm Ventures and Helion Venture Partners. Also, maxHeap Technologies, which own Commonfloor, raised $30 million in a growth round of funding from existing investor Tiger Global.
However, both Kalaari Capital and Grabhouse have failed to comment on this deal, as reported by ET.