25th July, 2022 : A Prop-tech startup, Propsoch has received angel funding for an undisclosed amount from business veterans Mohit Malhotra, MD and CEO, Godrej Properties and Bhaskar Bhat, Former MD, Titan Industries Ltd
Propsoch is a tech enabled platform which provides homebuyers detailed insights based on data analytics and in-house expertise.
“The USD 200 Bn Indian residential market is plagued with a lack of transparency, expertise and data asymmetry. Prosoch aims to transform the home-buying experience for the Indian consumer by combining proprietary Data Analytics, industry expertise and consumer reviews to provide unbiased inputs and recommendations. We are currently tracking close to 1.5 Lakhs homes in Bangalore on 200+ data points related to the location, accessibility, Design, Pricing, Legal, Approval etc. I am happy to have Mohit and Bhaskar and the other investors on board whose support will help Propsoch deliver on its mission and gain a significant Market share in the USD 1 Bn transaction advisory business. Our vision is to be the default home buying platform in India” said Ashish Acharya, the Founder of Propsoch.
“Thanks to his deep experience across various roles in the real estate industry, Ashish has identified a crucial gap in the home buying experience which he is solving through Propsoch. I am convinced that Propsoch will revolutionise the experience for homebuyers through their state-of-the-art tech and real estate expertise,” said Mohit Malhotra, MD and CEO, Godrej Properties.
“Real Estate is both a financial and emotional decision in India. Unfortunately, home buyers have never had access to the right insights which could help them make truly smart decisions. Ashish and his team at Propsoch aim to bring much needed information, insight and transparency into an otherwise asymmetric market . That service as evidenced in many other unorganised categories is bound to transform the industry.” said Bhaskar Bhat, Former MD, Titan Industries Ltd.
The prop-tech startup aims to have its presence in the top 8 cities of India in the next 18 months. It also offers a seamless platform for Legal, Vastu, Architecture, Interior and transaction services. Going beyond the regular listings and promoted content which are seen in the property portals, Propsoch delivers technical inputs which significantly empowers Home Buyers in one of the biggest decisions of their lives.