Jugyah, founded in 2023 by Arshad Balwa and Ansuman Mohanty, raised USD 1.5 million in funding, with White Venture Capital, QED Investors, and Godrej Properties leading the round, along with other investors participating. The funds will help Jugyah expand within the Mumbai Metropolitan Region. Jugyah offers a real estate brokerage platform connecting buyers and tenants with sellers and landlords, along with services like mortgage origination, legal assistance, and loan financing. The company integrates digital and physical experiences to streamline home buying and renting. Jugyah expects to be cash flow positive by year-end and competes with Nobroker, Property Guru, and Housing.
Proptech startup Jugyah secured USD 1.5 million in a funding round with leadership from White Venture Capital, QED Investors, and Godrej Properties. Whiteboard Capital, Singularity Ventures, and angel investors, including Cred founder Kunal Shah, Harsh Jain of Dream Sports, and Ramakant Sharma of Livspace, also participated in the round. With this new funding, the Mumbai-based firm Jugyah aims to extend its reach within the Mumbai Metropolitan Region and increase its market share. Founded in 2023 by Arshad Balwa and Ansuman Mohanty, Jugyah operates as a real estate brokerage platform, connecting property buyers and tenants with sellers and landlords.
In addition, the platform also offers an additional array of services, including an in-house mortgage origination arm that provides financing options for its users. To effectively tackle the challenges faced by home buyers and renters, Jugyah's co-founder, Balwa, stated that they had to redesign the entire home sale and rental value chain from the beginning. Existing listing platforms, he noted, only address surface-level issues like search and discovery, while subsequent processes-such as visits, negotiations, transactions, and post-move-in experiences-remain offline and unstandardized.
Jugyah seeks to streamline the process and introduce features such as legal assistance and loan financing by vertically integrating these five steps through a digital platform, complemented by a physical experience centre, and embedding a fintech layer. This approach aspires to create an affordable, physically enabled method for finding a home. The objective is to transform real estate brokerage from a variable-quality service into a standardised product. On the Jugyah platform, all tenants must complete an e-KYC procedure and credit assessment, enabling landlords to select credit-verified tenants for their properties.
Buyers benefit from free seepage warranties, complimentary legal support, and zero-commission mortgage pre-approval. Jugyah has set up offline experience centres in South Mumbai and Navi Mumbai, aiding buyers, sellers, tenants, and landlords through its agents. The company claims to be experiencing a growth rate exceeding 50% month-over-month and anticipates becoming cash flow positive by year-end. Furthermore, Jugyah projected that the long-term rental and resale market in India will reach USD 300 billion by 2026, while the brokerage and property management market will likely reach USD 20 billion within the same period.
Sandeep Patil, head of Asia at QED Investors, expressed excitement about Jugyah's vision to comprehensively tackle the challenges faced by buyers, renters, landlords, and agents in the current market. Jugyah highlighted that Arshad and Ansuman's invaluable insights, networks, and energy could profoundly influence the daily lives of middle-class Indians in growing cities, looking forward to their innovative contributions. He faces competition from major players such as Nobroker, Property Guru, and Housing, among others.
However, with its comprehensive approach and strategic vision, Jugyah aims to carve out a distinctive niche in the competitive real estate landscape. It is well-positioned, with strong foundational support and significant backing from investors, to lead the digital transformation in the real estate industry.
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