India Dealbook: RealPro Realty, SpringRole raise funds; Knowlarity acquires Sunoray

RealPro Realty Solutions Pvt. Ltd, the Indian arm of Sotheby’s International Realty as well as blockchain-based professional network SpringRole have raised additional funding. Also, cloud-based telephony services provider Knowlarity Communications Pvt. Ltd has acquired Mumbai-based Sunoray Solutions.

RealPro Realty raises $5.5m in Series A round

RealPro Realty Solutions Pvt. Ltd, the Indian arm of luxury real estate advisory services provider Sotheby’s International Realty, has bagged additional funding of $5.5 million in a Series-A round, according to a report in The Economic Times.

This funding follows the realty advisory firm raising $3.4 million from HT Media in January this year. In the same month, it had also raised $2 million as angel funding. In May last year, RealPro Realty has raised $7 million from Brand Capital and some undisclosed high-net-worth individuals (HNIs).

The current round saw capital infusion from an undisclosed Delhi-based ultra-HNI. According to the news report, the latest funding will be used by the company to expand into Gurgaon, Bengaluru, Kolkata, Pune, Goa and Sri Lanka. These international offices will sell India luxury properties and will be controlled by India operations, it said.

Blockchain-based professional network SpringRole gets $1.3m funding

Blockchain-based professional network SpringRole has secured $1.3 million in funding from its existing investors through private placement.

The investors participating in the round included AlphaBlock Investments, DNA (Brock Pierce and Scott Walker’s Blockchain investment and consulting firm), Isaac Lee’s BlockWater, and Wavemaker Genesis.

SpringRole is building a professional reputation network powered by artificial intelligence and blockchain technology to eliminate fraud from user profiles. The startup is building features like directory listing, search, job board, work attestation and reputation scoring on its platform.

According to an official statement, the Bengaluru-based startup has set a May 15 date for the public pre-sale of SPRING, an ERC-20 compliant token that ties a value incentive to verifying career information like educational attainment, work history and skills endorsements. Public sales of the SPRING token are expected to start at the end of June.

Knowlarity acquires cloud-based telephony firm Sunoray

Cloud-based telephony services provider Knowlarity Communications Pvt. Ltd has acquired Mumbai-based Sunoray Solutions Pvt. Ltd for an undisclosed amount.

According to an official statement, the acquisition will provide Knowlarity access to Sunoray’s small and medium-sized enterprise market as well as artificial intelligence and machine learning products.

Mumbai-based Sunoray offers SMEs cloud-based telephony to cater to diverse business needs.

“The growth path and customer profile of both companies is synergistic and the acquisition is consistent with our strategy of acquiring businesses that complement our scale-up, both, in terms of revenue and breadth of offering to our customers”, said Ambarish Gupta, Founder & CEO, Knowlarity.

This marks the third acquisition by Singapore-based Knowlarity, which is backed by Sequoia Capital, Mayfield Fund and Delta Partners. In 2014, it had acquired Delhi-based cloud telephony startup Unicom Techlabs and later in 2016, it acquired customer-engagement firm Smartwards Services Pvt. Ltd.

Also Read:

RealPro realty raises $3.4m from HT Media

RealPro Realty raises $2m angel investment

India: Knowlarity raises $20m round led by Dubai’s Delta Partners