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Proptech unicorn NoBroker to foray into home interiors business

Proptech unicorn NoBroker to foray into home interiors business
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Real estate proptech platform NoBroker has ventured into home interiors space, for which it plans to make around Rs 100 crore (around $13.2 million) worth of investments, the company said. 

The company in a statement on Wednesday said it has rolled out its first home-in-store experience centre in Bengaluru, and eyes to expand the verticals’ footprint to Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR. 

“The home interiors industry is very fragmented. Finding the right designer, contractor, carpenter, or freelancer is quite a tedious task for homeowners looking to renovate or build their space. The task typically involves multiple visits to multiple vendors. Many times they end up finding vendors that have neither expertise nor credibility. We intend to help our customers with the right information through our design experts and the advantage of being able to choose from everything under one roof," said Amit Agarwal, CEO and Co-Founder of NoBroker. 

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Founded in 2013 by IIT alumni Saurabh Garg, Amit Kumar Agarwal and Akhil Gupta, NoBroker offers a tech-based brokerage-free real estate platform, which enables users to buy and sell as well as rent properties across six key metros including Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR.  

In November 2021, the company raised $210 million as a part of its latest Series E funding round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.   

NoBroker claimed to have become the first property tech (proptech) and real estate startup to achieve a ‘unicorn’ status.  

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A ‘unicorn’ is a privately held startup with a valuation of $1 billion.  

Early this month, the company had announced a Rs 32.2 crore (around $4.2 million) employee stock ownership plan (ESOP) buyback programme for its former and current employees.  

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