Telecommunications and internet firm SoftBank has invested Rs1bn ($14.8m) in India-based real estate listings portal Housing.com, Hindu Business Line reported on Thursday.
Housing.com runs an online realty portal that has listed some 1.7 million properties since it was launched, and which registered roughly 85 million visits in 2015. The capital will support ongoing growth plans for the company.
SoftBank led a $90m round for in Housing.com in late 2014, reportedly acquiring a 30% stake in the process. Qualcomm Ventures, the corporate venturing subsidiary of semiconductor technology producer Qualcomm, Falcon Edge, DST Global, Helion Venture Partners and Nexus Venture Partners also took part in the round.
Qualcomm Ventures, Nexus Venture Partners and Helion Venture Partners had already contributed to a $19m round in June 2014. Housing.com has raised $169m since it was founded in 2012, according to Business Line.
Jonathan Bullock, SoftBank’s representative on the Housing.com board of directors, said: “We continue to remain excited by Housing’s prospects and we know that this infusion will help Housing get to the next level and further consolidate its presence in the Indian real estate market.”