NoBroker enters into home interiors space business

01 Apr 2022 CW Team

NoBroker, a real estate Proptech platform, has ventured into the home interiors space, for which it plans to make approximately Rs 100 crore worth of investments.

The company told the media that it has proceeded with its first home-in-store experience centre in Bengaluru, and plans to expand in cities like Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR.

Amit Agarwal, CEO and Co-Founder of NoBroker, said that there is a lot of fragmentation in the home interiors market. For homeowners wishing to renovate or create their space, finding the correct designer, contractor, carpenter, or freelancer may be a difficult undertaking.

The task usually requires many visits to various providers. They frequently wind up with providers that lack both competence and reputation.

Agarwal said that through their design experts and the benefit of being able to pick from everything under one roof, they hope to provide the right information to the consumers.

NoBroker was founded in 2013 by IIT alumni Saurabh Garg, Amit Kumar Agarwal and Akhil Gupta.

The company offers a tech-based brokerage-free real estate platform, allowing the users to buy, sell, and rent properties across six significant metros including Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR.

In November 2021, the firm raised $210 million as a part of its latest Series E funding round, which was headed by General Atlantic, Tiger Global Management and Moore Strategic Ventures.

NoBroker claimed to be the first property technology (Proptech) and real estate business to attain Unicorn Status.

The company announced an employee stock ownership plan (ESOP) repurchase scheme for past and present workers earlier this month, worth Rs 32.2 crore.

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