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Indiaproperty.com to raise $50 million in 3 weeks
By T E Narasimhan | Chennai | Last Updated at June 04 2015 00:48 IST
Chennai-headquartered online real estate portal Indiaproperty.com said it expected to close its Series C fund, which would raise $50 million, in the next three weeks. While the lead investor will be a new one, the existing investors including JPMorgan Asset Management India, Mayfield Fund and Bertelsmann India Investment are expected to participate in the fund raising process.
Beside expanding its presence in India, the company also will make a foray in the international market with this and it will pave way for it to report break-even and go for an Initial public offering. Ganesh Vasudevan, chief executive officer, said the company had earlier raised $19 million in Series-A and B funding from JP Morgan, Mayfield and Bertelsmann.
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