Property technology firm's operations center in a modern urban high-rise
Indian proptech startup Square Yards has successfully raised ₹900 crore (approximately $95 million) in a recent funding round, solidifying its position as a unicorn with a valuation exceeding $1 billion. The funding round was led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co.
This latest investment follows a $35 million raise in November of the previous year. The current funding round comprised a mix of equity and debt, significantly increasing the company’s equity valuation compared to its prior fundraising efforts. While the exact valuation was not disclosed by Square Yards, sources indicate it surpassed the $1 billion mark.
Square Yards also revealed plans to seek an additional $50-60 million in the next quarter as it prepares for an Initial Public Offering (IPO). Sources suggest the company is targeting a valuation of $1.6 billion for this upcoming fundraising initiative.
The capital infusion is earmarked for expansion across Square Yards’ existing international markets, including India, the UAE, Australia, and Canada. Additionally, the funds will be utilized to bolster the company’s technological infrastructure.
About the Author
