Locon Solutions, the operator of India-based online real estate search engine Housing.com, confirmed a $90m funding round on Monday led by telecommunications group SoftBank.
Reports late last month stated SoftBank had acquired a 30% stake in Locon by contributing $70m of a $100m round that also included Qualcomm Ventures, the corporate venturing arm of wireless technology provider Qualcomm, as well as Falcon Edge, DST Global, Helion Venture Partners and Nexus Venture Partners.
Locon did not disclose details concerning other investors in the round or the size of SoftBank’s stake, but did reveal that the Japan-based firm, which invested through its SoftBank Internet and Media. is now its largest investor.
The round increased Locon’s overall funding to approximately $121m in two years. Qualcomm, Nexus and Helion all participated in a $19m round for the company in June.
Locon will use the cash to map more than 40 million houses across 300 Indian cities, and to modify Housing.com to include on-off buttons for curated houses in its database so they can be reactivated when they are back in the market.