Venture capital firms Mayfield Fund and Canaan Partners have invested INR38 crore ($7m) in property and real estate listings site Indiaproperty.com, Business Standard reported.
The two investors are also backers of the site’s parent company BharatMatrimony, a dating and marriage website.
According to CEO Ganesh Vasudevan, the investment was part of a demerger and Indiaproperty.com is currently looking at a Series B investment round of up to $12m.
To date Mayfield’s India team has invested in over 20 Indian companies, of which seven have had IPOs and another five have been acquired.
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