Foxhog Ventures invests Rs 5 cr in realty startup Propsmith
US-based venture capital firm Foxhog Ventures has invested Rs 5 crore in a real estate startup Propsmith.
Noida-based real estate advisory firm Propsmith deals in commercial and residential projects. It also has presence in Gurugram, Patna and Pune.
Propsmith has raised Rs 5 crore in a seed round from Foxhog Ventures, the US firm said in a statement.
The startup is planning to expand its operations in other cities.
"Real estate market is expected to grow and we expect a better ROI (Return On Investment) after the pandemic. We are also in the process to make a larger investment in the field of edtech and personal care products," said Tarun Poddar, Indian Head and Managing Partner of Foxhog.
Propsmith Realty LLP was incorporated in October last year. There are three partners -- Yakshit Yadav, Satish Kumar Pandey and Rishikesh Kunal.