Landeed, national title search engine, has raised INR 19.5 crore in pre-Seed funding round. The funding round saw participation from Justin Hamilton (CEO, Clutterbot), Goodwater Capital, Olive Tree, Kunal Shah (CRED), Manmohan Chandolu, Chris Maurice (Yellow Card0, Christian Kaczmarczyk (Third Prime VC), AVCF Fund and 9Y Combinator alum. The fund will be used to expedite product development as well as build a comprehensive and standardized property documentation retrieval system.
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"Title insurance alone is a nearly $25 billion market in the US and has recently been introduced in India. We believe there a lot larger segments to tap in India beyond title insurance and in the coming months, we are planning to enable property title embedment on the blockchain," said the founders in a joint statement.
Landeed's software helps individuals reduce the transactional hassle by more than 10 times and in addition to this, the company plans to issue title insurance down the line. The company also aims to launch a desktop property diligence and transaction platform to assist enterprises with multiple stakeholders, as per company statement.
"Been really impressed with the Landeed team and their ability to iterate fast and execute quickly on product development. They are going to become a critical piece to ensuring smooth real estate transactions in India and over time more emerging. On top of that, their ability to leverage web3 technology will only make the solution more permanent and transparent," said Christian Kaczmarczyk, principal, Third Prime.
Founded in 2022, Landeed is enabling owners, agents, developers and legal advisors check real estate records for building, lending and transacting property. The company's mobile application also helps users to instantly check property ownership and check transaction history, along with property market or guideline value.