Online rental accommodation startup Grabhouse raises $10 million

BENGALURU: Online rental accommodation startup Grabhouse has raised $10 million led by existing investor Sequoia Capital, with the participation of Kalaari Capital.

The startup will use the money to strengthen its presence in 11 cities that it operates in, build technology capability and launch new business streams.

This latest round of funding adds to Grabhouse’s initial funding of over Rs 12 crore from Sequoia Capital and Kalaari Capital, which was raised in November 2014.

GrabHouse claims it is different from larger players including CommonFloor, Housing.com, 99acres and Magicbricks for the way in which its online platform can help close a transaction rather than only generate leads.