Jugyah, a Mumbai-based proptech startup, has raised $1.5 million in a funding round led by White Venture Capital, QED Investors, and Godrej Properties, with additional participation from Whiteboard Capital, Singularity Ventures, and angel investors like Kunal Shah of Cred, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace. The fresh capital will be used to expand Jugyah’s reach within the Mumbai Metropolitan Region and increase its market share.
Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah connects property buyers and tenants with sellers and landlords through its real estate brokerage platform. The company also offers an in-house mortgage origination service that provides financing options to users. According to the founders, to effectively address the issues faced by home buyers and renters, they had to redesign the entire home sale and rental process from the ground up. They realized that listing platforms only facilitate search and discovery, while subsequent steps like visits, negotiations, transactions, and post-move-in experiences remain offline and unstandardized.
Jugyah integrates all these steps through a digital platform with a physical experience center, embedding a fintech layer to eliminate hassles and adding features like legal assistance and loan financing. The goal is to transform real estate brokerage into a standardized product rather than a service of varying quality. All tenants on the platform must undergo an e-KYC procedure and credit assessment, helping landlords select credit-verified tenants. Buyers benefit from free seepage warranties, legal support, and zero-commission mortgage pre-approval.
The company has established offline experience centers in South Mumbai and Navi Mumbai, where buyers, sellers, tenants, and landlords can receive support from Jugyah’s agents. Jugyah reports a growth rate of over 50% month-over-month and anticipates becoming cash-flow positive by the end of the year. Additionally, the long-term rental and resale market in India is projected to reach $300 billion by 2026, with the brokerage and property management market expected to grow to $20 billion within the same timeframe.
Jugyah faces competition from other industry players such as Nobroker, Property Guru, and Housing. Sandeep Patil, head of Asia at QED Investors, expressed excitement about Jugyah’s vision to address the challenges in the real estate market and praised the founders for their insights, networks, and energy, which have the potential to significantly impact the lives of middle-class Indians in growing cities.
