Grabhouse may raise funds from existing investors


Gramener - Main Feature 1Grabhouse may secure funds from existing investors Kalaari Capital and Sequoia Capital. Cryptopy Technologies owns and operates the brand Grabhouse is in talks for further capital. The company is community based online exchange for finding rented accommodation.

Grabhouse offers a broker free and transparent experience to home hunters seeking rented or shared accommodation. The company has developed a proprietary engine that maps needs and preferences of prospective tenants and house owners. Apart from the standard features such as budget and location that provides best matches. Grabhouse is based community, all the listings are verified.

The company was founded in 2013 by Pankhuri Shrivastava and Prateek Shukla. Prateek is the Chief Executive Officer of Grabhouse. He has graduated in Bachelor of Technology in Materials Science from Indian Institute of Technology, Kanpur in 2012. After completion of internship in NIMS Japan and Teach for India he joined Cenogen Materials as Marketing Head. After brief stint of 14 months he co founded Grabhouse.

Grabhouse - Main Feature 2Pankhuri Shrivastava is co founder and Chief Marketing Officer of Grabhouse. She graduated in Bachelor of Engineering in Computer Science from Rajiv Gandhi Technological University in 2011. She is a fellow of Startup Leadership Program from September 2012 to April 2013 and Teach for India from June 2011 to April 2013.

Munjal Dhamecha is Chief Technology Officer of Grabhouse. He has graduated in Bachelor of Engineering in Computer Engineering from University of Mumbai in 2004. He started his career as software developer in Baysquare Technologies in November 2004. After brief stint of 3 months, he joined Reliance Communications in 2005. He worked with Reliance for 3 months.

In July 2005 Munjal joined Mauj as games and application developer. He worked with the company for 15 months and he moved as Team lead in JustDial in 2006. He worked with JustDial for 4.5 years and did freelance work for few days. In July 2011 he became Technology Lead for Make Sense Technologies. He worked for 20 months and became Product Development Lead for Inknowledge Inc in March 2013. He worked till April 2014 and joined Grabhouse in May 2014.

Grabhouse - Main Feature 3Grabhouse has raised $5 million from leading PE investors like India Quotient, Kalaari Capital and Sequoia Capital. There first funding for undisclosed amount as seed capital was raised on Jan 21, 2014. Subsequently they received funding in regular interval. In Jul 8, 2014 they received $500K as Venture capital from India Quotient followed by $2 million Series ‘A’ funding on Nov 5, 2014. They raised another $2.5 million from Kalaari Capital and Sequoia Capital.

Grabhouse offers houses in Mumbai, Pune, Hyderabad and Bengaluru. They are planning to expand to tier 1 and tier 2 cities. Grabhouse website attracts a daily traffic of 500,000+ visitors through referrals and word of mouth publicity. They have also entered the paying guest accommodation with the listing of 8,000 PG’s in Bengaluru. The platform lists around 2000 properties every day and on an average carries out 200 transactions per day.

Online housing portal is witnessing lot of action these days. Mergers and funding are occurring on frequent basis. Recently acquired Delhi based RealtyBI. PropTiger acquired and Google Capital funding CommonFloor. These segment witnesses lot of competition from well established portals like, PropTiger, MagicBricks, and few others.