News Corp-backed Elara Technologies, which owns and runs Housing.com, PropTiger.com and Makaan.com, has raised $70 million from its existing investors NewsCorp and REA group.

The capital infusion is in the form of a convertible note that will also cover the previous $35 million it had raised from Citi Singapore in August 2018.

With this fresh financing, Elara has raised a total of $175 million till date.

Elara Technologies will use the capital to accelerate growth by investing in further building the brand and boost its product, technology and sales teams.

The fund raise comes at a time when the group says it has grown by over 30% annually and looking to enter into new segment.

“After the $2 million Angel Funding in 2011, we have done different round of funding through SAIF, Accel, SoftBank and Citi Singapore,” said a company official, requesting anonymity.

Co-founded by Dhruv Agarwala in 2011, Singapore-based Elara Technologies offers services such as advertising, marketing, mandate business solutions for realty players, realty consultancy, personalized search, virtual viewing, 3d B2B solutions, site visits, negotiations, home loans and post- sales service.





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