Mumbai-based real estate technology startup Truva raises $3 million

Mumbai-based real estate technology startup Truva has raised $3 million in a seed funding round led by Stellaris Venture Partners.

The round also saw participation from several prominent angel investors, including Myntra founder Mukesh Bansal, Curefoods founder Ankit Nagori, and Groww founder Lalit Keshre.

Innovative approach to real estate

Founded in 2023 by Puneet Arora, Monil Singhal, and Ankit Gupta, Truva is focused on revolutionizing the home-buying experience. The startup offers detailed property listings, complete with natural light scores, noise ratings, 3D tours, and high-quality photos and videos.

Additionally, It provides extensive support for buyers, including assistance with financing, paperwork, and registration. 

"With our approach of prioritising buyer experiences, we aim to reduce the overall complexities involved in real estate transactions, thus accelerating the home-buying process. Since the launch earlier this year, we’ve facilitated transactions worth over Rs 30 crore in Powai, Mumbai alone. Our average time to sell a property is 19 days, compared to the market average of 9 months,” said Arora.

Purpose of fundraising

With this round of funding, Truva intends to expand its team, enhance its product offerings, raise debt for working capital, and scale its operations to meet the growing demands of the real estate market. 

Truva's market presence

Currently, Truva is present in Powai and Bandra in Mumbai and plans to expand its reach to other areas in Mumbai within the next year.

Ritesh Banglani, Partner at Stellaris Venture Partners, said, “With rising disposable incomes and rapid urbanisation, housing demand will continue to expand. To realise the potential of this growing market, we believe that there is a need for significant improvements in the buying experience.” Banglani highlighted Truva's strong commitment to understanding customer insights and its ability to deliver a superior home-buying experience as key reasons for the investment.