Google Capital invested for second time in India in online real estate portal Commonfloor.com. The investment affirms the strong and unique technology that Indian companies are adopting. Google Capital is a growth equity fund and invests in companies that use technology to change the way experience the world.
Google Capital has invested $15 million in Commonfloor.com. Last year Google Capital had invested $31 million in help desk startup Freshdesk.com.
Just 2 days back Commonfloor.com had announced that they have acquired Bakfy.com, an anonymous social gossip app for undisclosed amount.
After funding from Google Capital, Commonfloor.com CEO Sumit Jain says “Having Google Capital onboard will give Commonfloor a chance to take advantage of the tech giant’s technical and operational expertise as it continues to scale up its business. Commonfloor currently has 200,000 properties posted directly from real estate owners in India.”
He further said “We have 1 Lakh projects and half a million active listings on our platform. We have so far mapped 10 million properties across 200 cities in the country. The challenge in India is there’s too much information. Google is indexing every property and every page on the internet to make it easy for people to search information. Similarly, at Commonfloor, we intend to buy to map every property on our platform in the next two years to make it easy for property buyers to search properties on our platform.”
Google Capital would take seat in the board of Commonfloor.com. The company has raised several rounds on funding from venture capital companies. It has also in touch with Government agencies for affordable housing project.