Media conglomerate News Corp paid $30m on Monday for a 25% stake in India-based online real estate platform PropTiger, investing in its Singapore-based parent company Elara Technologies.
The investment was made as part of a $37m series B round that included SAIF Partners, Accel Partners and Horizen Ventures. SAIF and Accel provided $5m in series A funding for PropTiger in 2012.
News Corp had already secured a foothold in the real estate market through its 61.6% stake in Australia-focused online real estate platform REA. REA invested approximately A$106m ($100m) in iProperty, an online property listings company that operates throughout Southeast Asia, in July 2014.
To date, PropTiger has facilitated the sale of some 10,000 properties at a combined value of more than $1bn.
Robert Thomson, chief executive of News Corp, said: “PropTiger.com will provide analysis, information and insight so that Indians will be better informed when they make the most significant investment decision any family will make, buying a home.
“We believe the site will be the most important platform for developers seeking to market new properties and the most trusted and reliable source for purchasers, many of whom will be buying for the first time.”