Milind Mehere, a US-based tech entrepreneur who co-founded online advertising company Yodle Inc, has invested an undisclosed amount in real estate broking firm Coldwell Banker India.
This is his first investment in India, according to a press statement.
Mehere has joined the company’s board as part of the transaction.
Besides Yodle, Mehere has worked at other companies including i2 Technologies in his 15-year career.
Yodle, which created an online advertisement and marketing platform that helps small businesses acquire and retain customers, was recently acquired by Web.com for $342 million.
After Yodle, Mehere founded YieldStreet, an online investment marketplace that connects accredited investors to curated investments that were previously only open to the investing elite, such as hedge funds and high net-worth individuals.
“The real estate buying experience in India is painful… We aim to make Coldwell Banker India a trusted brand that uses marketing, technology and online lead generation to help consumers buy their dream home effortlessly and as easy as opening a bank account,” Mehere said in the statement.
Coldwell Banker India is the master franchisee of the US-based Coldwell Banker Real Estate LLC. However, the Indian firm is not owned by the US company.
Coldwell Banker India has about 25 offices in Mumbai, Pune, Bengaluru, Noida and other cities with 130 real estate agents. It is looking to have 100 offices and 500 agents by the end of 2016.