Proptech Startup NoBroker Secures $5 M From Google
With the latest funding, NoBroker, which is the first proptech unicorn in the country, has secured USD 366 million worth of funding so far.
Proptech unicorn NoBroker has bagged USD 5 million from Google in an extended Series E round. The tech giant, had earlier infused USD 210 million of funding in November 2021.
The investment has been made from Google’s USD 10 billion India Digitization Fund, which was unveiled by CEO Sundar Pichai in 2020. After the infusion, Google joins NoBroker’s existing investors, General Atlantic, Tiger Global and Moore Strategic Ventures, in the Series E round.
Prior to the latest funding round, NoBroker turned a unicorn after raising capital in 2021. The new funding was raised at a valuation of around USD 1 billion. With this, NoBroker, which is the first proptech unicorn in the country, has secured USD 366 million worth of funding so far.
Bengaluru-based NoBroker provides services for all property-related needs, including renting, purchasing, selling, home services, financial services, and society management services. The timing of NoBroker's fund-raise coincides with the real estate market being in the midst of a bull run, with rents and housing prices rising along with unusual momentum in residential sales following the epidemic. Furthermore, the proptech startup aims reaching around 1 lakh societies in the coming years.