Proptech Startup Blox.xyz Raises $12m in Series A Investment Round

Mumbai-based startup Blox—a technology-based real estate buying platform—has raised $12m from its Series A funding round as the proptech looks to snap up new opportunities in the booming Indian real estate market.

Existing investors from Silicon Valley, as well as new investors including CRED founder Kunal Shah, put up the cash with India's real estate market expected to reach an estimated worth of $1 trillion by 2030.

Blox will use the cash to streamline technologies and improve its product development infrastructures. The investment also offsets Blox's $1.5m acquisition of property sales and marketing company Plinthstone REMA in May 2022.

Aditya Jhaveri, founder and CEO at Blox, said:

"This investment reaffirms investors' faith in Blox to lead India's proptech transformation and disrupt the $100bn real estate market."

The Indian real estate market is attracting attention and multi-million dollar investments at the moment. Australia-based REA Group is already present, having invested heavily in REA India and PropertyGuru, while Indian startup Homesfy secured $1.1m in funding just last week.

Square Yards has also invested in the Indian market with the launch of a fractional ownership investment product in November.