Commonfloor.com acquires Flat.to
Real estate portal Commonfloor has bought Flat.to, a real estate service that helps students and unmarried people find flats, paying guest accommodation and hostels. The financial details of the deal were not disclosed. Earlier this year, Commonfloor.com had raised $10.4 million from Tiger Global and Accel Partners. Flat.to has a tie-up with over 200 colleges in Mumbai and Pune and offers a choice of selecting an accommodation either through brokers or directly by connecting with owners. It operates in Mumbai, Pune, Bangalore, Kota, Jaipur and Delhi. Sumit Jain, co-founder and chief executive of CommonFloor.com, said, "This (students and singles) is a large segment in the online real estate space... this move gives us a direct foothold in the market backed by a great team that has experience of operating in this space." Flat.to will continue to function independently with its current identity and founder and chief executive, Gaurav Munjal.
IndiaHomes raises Rs 150 cr
IndiaHomes, a property advisory portal, has received additional investment of Rs 150 crore from New Enterprise Associates, Helion Ventures and Foundation Capital. The company plans to use the proceeds to expand its reach to 50 cities in the country in two-three years. Started in 2009, IndiaHomes is present in Delhi, Gurgaon, Noida, Mumbai, Bangalore and Kolkata. It works with 450 builders and six banks as channel partners.
Sequoia invests $4.7mn in SirionLabs
Gurgaon- and Michigan-based SirionLabs, which helps businesses manage key suppliers, has secured $4.7 million in series-A round of funding from Sequoia Capital. The company plans to use the funds for research and development and increasing its market share. Sequoia's Managing Director Shailendra Singh has joined Sirion's board of directors. Founded in 2012 by Ajay Agrawal and Claude Marais, SirionLabs is creating the next generation of supplier management technology through a structured data approach to simplify the procurement of strategic services.
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