Property title search engine ‘Landeed’ bags Rs 19.5 crore in pre-incorporation financing

Landeed- The national address search engine has secured Rs 19.5 crore in a pre-incorporation funding round. These funds will be used by the company in product development of a comprehensive and standardized proprietary document recovery system. The tour was led by Justin Hamilton, CEO of Clutterbot, Goodwater Capital, Olive Tree, Kunal Shah, CRED, Manmohan Chandolu, Chris Maurice, Yellow Card, Christian Kaczmarczyk, Third Prime VC, AVCF Fund and 9 Y Combinator alum.

One problem you encounter in Indian real estate is that the buyer is often left to do their due diligence without a single title document. This leads to various problems including delays in transactions and property litigation. Infact, about 67% of all court cases deal with land disputes in India. Landeed aims to provide due diligence for all parties to participate, communicate and close deals, and its future plans include issuing title insurance later.

β€œProperty insurance alone has an approximately $25 billion market in the US and was recently rolled out in India. We believe there are much larger sectors to tap into in India other than insurance,” the founders said in a joint statement. on equity, and in the coming months, we plan to enable the inclusion of equity titles on the blockchain.”

Founded in 2022, owners, agents, developers and legal advisors can use Landeed to verify property records for building, lending and property transactions. Through the company’s mobile application, users can check property ownership and transaction history, along with property market value/guideline. Additionally, it is also launching a desktop property care platform and a transactional platform for organizations with multiple stakeholders.

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