The fresh funding round was led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co
While Square Yards did not disclose the valuation, sources told Inc42 that the startup raised the funding at a valuation of over $1 Bn
Square Yards added that it is also looking to raise another $50-60 Mn over the next quarter as it gears up for its IPO
Months after raising $35 Mn in November last year, proptech startup Square Yards has raised ₹900 Cr (around $95 Mn) in a fresh funding round led by EAAA Alternatives, with participation from global corporate credit manager Muzinich & Co.
The fresh round was a mix of equity and debt and valued the startup at a significantly higher equity valuation compared to its previous fundraise, Square Yards said in a statement without disclosing the valuation.
However, sources told Inc42 that the startup raised the funding at a valuation of over $1 Bn.
Square Yards added that it is also looking to raise another $50-60 Mn over the next quarter as it gears up for its IPO.
The sources said that the proptech startup is eyeing a valuation of $1.6 Bn for the next fundraise.
Square Yards plans to deploy the fresh capital for expanding across its existing markets, including India, the UAE, Australia, and Canada, and strengthen its technological infrastructure.
(The story will be updated soon)
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