Delhi-based real estate marketplace startup Clicbrics has raised ₹21 crores in Pre-Series A funding round from former Tiger Management Lieutenant Manny Singh of Kavi Fund, Gluskin Sheff’s fund manager Peter Mann and a senior managing director of a Canadian pension fund. Several private investors from the USA and Canada also participated in the funding round.
The startup plans to use the funds to expand and grow in the Indian market. Clicbrics aims to focus on Tier I and Tier II markets. Founded by Rohit Malik, Clickbrics is a real estate marketplace that connects buyers and sellers across all segments using an AI-driven real estate brokerage platform. The startup caters to end-customers, brokers, and developers with its platform.
Rohit Malik, founder, and CEO, Clicbrics, said, “Real estate has tremendous opportunities in India, especially after RERA, and our unique technology platform creates a win-win situation for both buyers and sellers.”
Clicbrics is looking forward to streamlining the ₹31,500 crores real estate brokerage market in the country with its asset-light model. The startup provides a virtual 360-degree tour of the property to its buyers. The AI-algorithm enables customers to analyze the right value of properties using some basic details.
Manny Singh, founder of Kavi Asset Management and former Lieutenant at Tiger Management, said, “The SaaSification of businesses is one of the most transformative secular trends in technology today, playing out globally across many different verticals. Clicbrics is the first and only company in India that is SaaSifying the real estate vertical, which is a very large and fragmented market with tremendous white space ahead.”
From first time home buyers to buyers of properties across all categories, Clicbrics empowers the consumers with data and full knowledge of the properties which they want to call home. Clicbrics team consists of professionals from all segments of real estate, e.g online real estate, real estate private equity, developers and builders, as well as local experts from real estate brokerage and consultancy services.
The real estate segment in India will reach $1 trillion till 2030 and will contribute 13% to the GDP by 2025. This is a huge opportunity as the sector was worth $120 billion in 2017. Some of the major startups operating in the area are Square Yards, NoBroker.com, MagicBricks, 99acres, and Quikr.