In the latest startup news this week, Zvesta stands out as it bags a whooping amount of $5.5 million from Hindustan Media to expand its business.
Zvesta is also planning to expand its business in brand building which was founded by Rajan Dang and Anushree Srivastava in 2015.
The company is also planning to invest in collaborative marketing of real estate properties across the country. Zvesta also wants to focus on building pan-India partnerships with real estate builders and brokers as a part of its startup process
It is an online platform where users can search and buy properties listed by developers and brokers. Once buyers shortlist properties, Zvesta arranges a site-visit for them as well to verify the locations.
With the use of technology, Zvesta aims to bring transparency in inventories of real estate businesses.
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In real estate there is a deficit of trust among brokers, buyers and developers and Zvesta is looking to build legitimacy in real estate transactions, Dang said.
In India, prop-tech is reshaping the real estate sector at a time when the industry is going through a slowdown phase. The most visible shifts so far have been in residential real estate, where startups have built platforms to ease home buying and renting.
According to a KPMG study, India’s real estate sector is expected to reach $1Tn by 2030, up from the $120 Bn in 2017. By 2025, Indian real estate will contribute 13% to the country’s GDP.
With the opportunities growing, investors have become bullish on prop-tech startups. Another report estimates that prop-tech startups received $242 Mn in between FY16 to FY18. In India, early adopters of technology for selling properties online included Magic Bricks, 99 Acres, Housing and Common Floor.
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