Zapkey, a proptech startup and home sales guarantee platform, has raised $2 million in a seed funding round led by Abhijit Pai and Nikhil Kamath-backed Gruhas Proptech.

The funding round also saw participation from DLF Family Office, Blume Founders Fund, the Alkem Labs Family, Aprameya Radhakrishna (co-founder of Koo), Srini Sriniwasan (MD of Kotak Investment Advisors), and other individual investors.

As per the startup, the funding will be used to strengthen its technology and operations teams. Zapkey has already started its initial program in the property market of Thane near Mumbai.

Zapkey | Home Sale Guarantee Platform

Founded by Shubhankar Dongre, Sandeep Reddy and Raja Seetharaman in 2020, Zapkey is India’s first home sale guarantee platform providing its customers with guaranteed home sales within 3 months of the listing date, or they buy the property themselves.

Commenting on the business model of Zapkey, Co-founder Shubhankar Dongre said,

“We have seen this model play out in the cars space with Cars24, Spinny and others. Globally, giant funded start-ups like Opendoor and Loft have demonstrated this in resale homes. The problem and the solution are clear, present, and inevitable.”

The proptech startup aims to bring liquidity to the difficult resale home market with trust, transparency in pricing, and the best home selling experience to customers. Zapkey aims to close deals on over a hundred apartments in the next 3-4 months, supported by a credit line.

Speaking on the development, Abhijeet Pai, Partner at Gruhas Proptech, said,

“The resale home space is over a $50 billion market. The sheer scale that this market presents is an incredible opportunity. We believe Zapkey has the perfect team and motivation to take advantage of this opportunity, and we have full conviction in backing them.”

Last month, Gruhas Proptech, a venture capital firm founded by the founders of Zerodha and Puzzolana, invested in D2C meat and seafood brand Licious and drone startup Omnipresent Robot Tech.

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