To declutter India’s ever-growing housing problems, a lot of startups are coming with an aim to regularise that market. One such startup, Plabro Networks, which provides a commercial networking platform for real-estate agents, has fetched $350K in a seed round, from Flipkart founders and other angels.
In what is Plabro’s first round, the startup counts Flipkart co-founders Sachin and Binny Bansal, early stage investments firms Sol Primero & Outbox Ventures and angel investor Sangram Singh as its investors.
With influx of fresh capital, the startup will use the funds to create a stronger networking ecosystem and widen footprint across the country. Plabro Networks is also planning to add data analytics as a key feature on the application to arm the agents with insights into the property market.
The startup operates through a mobile application called Plabro that acts as a connectivity platform for real estate brokers, property agents and dealers, thereby enabling them to crack deals efficiently and quickly. The seamless networking between real estate intermediaries also helps real estate developers since there is a faster off-take of inventory and end users as they are able to choose from a wider pool of properties.
Talking about his company’s first funding, Founder and CEO Pankaj Garg said,
We are thankful to our investors for their faith in our idea. We plan to cover all metros and major cities in India within next one year. These funds will give a fillip to our plan to grow geographically and strengthen our infrastructure.
Plabro says, that its operations are primarily devised via two strategies : Collaboration and Business Insights. By collaborating the inventories and requirements with other real estate brokers, Plabro helps other similar agents increase their reach manifolds. This helps in closing the deals faster, expanding the business horizon beyond geographical limitations one faces right now.
With availability of rich data with Plabro, an agent will have current trends in the real estate space on his fingertips and can make informed business decisions. This, Plabro thinks, will help the business grow exponentially.