Mumbai-based proptech startup Jugyah raises $1.5 million

Mumbai-based proptech startup Jugyah has raised $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties.

The funding round also saw participation from Whiteboard Capital, Singularity Ventures, and notable angel investors, including Kunal Shah of Cred, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace.

The funding will support Jugyah's expansion within the Mumbai Metropolitan Region and its plans to increase market share.

What does Jugyah do?

Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah operates as a real estate brokerage platform that connects property buyers and tenants with sellers and landlords.

The platform also features an in-house mortgage origination arm, providing financing options for users.

The startup aims to address the entire home sale and rental process by integrating services such as visit scheduling, negotiation, transaction facilitation, and post-move-in support through both digital and physical platforms.

“To truly solve the home buyer and renter’s problems, we had to re-architecture the entire home sale and rental value chain from first principles. We realised that listing platforms are very surface-level and barely solve the search and discovery problem. What happens after, that is the visit, negotiation, transaction and post move-in experience, is completely offline and unstandardised,” said Balwa.

Improving the real estate transaction process

Jugyah's platform offers several services aimed at improving the real estate transaction process. Tenants undergo an e-KYC procedure and credit assessment, providing landlords with credit-verified tenants.

Buyers benefit from features such as free seepage warranties, free legal support, and zero-commission mortgage pre-approval.

The startup has established offline experience centers in South Mumbai and Navi Mumbai, where customers can receive assistance from Jugyah’s agents.

Investor comments

“We are excited about Jugyah’s vision to comprehensively solve challenges that buyers, renters, landlords and agents face in today’s marketplace. Arshad and Ansuman bring to bear insights, networks, and energy which can truly make a difference in the everyday lives of middle-class India in growing metropolises – we can’t wait to see what they will build here,” Sandeep Patil, head of Asia at QED Investors.

It competes with NoBroker, Property Guru, and Housing, among others.