Blox Acquires 11% Stake in Guardians for $12 Mn

Blox is a proptech startup financed by Kunal Shah that has paid $12 million to purchase an 11% share in Guardians, a real estate advising firm located in Mumbai. The startup intends to raise its ownership in Guardians to fifty percent within the next three years.

During the next three to five years, Blox hopes to increase its gross transaction value (GTV) fivefold to $10 billion.

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“By integrating Guardians, we’re not only enhancing the homebuying process but also establishing India’s first platform capable of supporting both D2C and broker-led B2B2C sales,” Blox CEO and founder Aditya Jhaveri said.

Blox is a proptech platform that was founded in 2020. The clients may promote their home-buying process with their fully integrated online real estate service. In 2022, it secured $12 million in its most recent round of Series A investment from Silicon Valley.

Blox says that it has raised $35 million from investors such as Justin Mateen, a co-founder of Tinder and Kunal Shah of CRED.

Guardians is a real estate consulting company that was established in 2016 and provides a variety of services, including residential services, marketing, land development and property advice. Blox said in a statement that the acquisition of the share will enable it to increase its capacity for distribution.

Blox stated that it will be able to split its real estate development and management assets into a distinct company by combining its AI-powered property recommendation system with Guardians extensive broker network.

“By combining Guardians’ market expertise and with Blox’s technology, we’re setting a new benchmark for transparency, efficiency, and service,” Guardians’ director Jayesh Rathod said. 

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