Media conglomerate News Corp has raised its stake in India-based online real estate platform PropTiger to 30%, investing an undisclosed sum in the platform’s parent company Elara Technologies, VCCircle reported earlier today.
News Corp took a 25% stake in PropTiger in November 2014, when it led the company’s $37m series B round which also featured Accel Partners and Horizon Ventures.
In 2012, SAIF and Accel invested in a $5m series A round. In 2011, telecoms company SoftBank, Horizon Ventures and a range of angel investors provided $2m in seed funding.
PropTiger will use the fresh funding to hire 250 more staff. The company currently employs 750 people.
Dhruv Agarwala, co-founder of PropTiger.com, said: “News Corp’s increased stake in PropTiger is a validation of the company’s strategy to win a growing share of the digital real estate market in India through our unique service offerings and an end-user experience that is second to none.”