Navanc’s $1M Seed Round Fuels Expansion and AI Innovation in PropTech

Navanc, India’s first AI-driven property scoring and stacking system for secured lending and insurance, has successfully secured $1 million in seed funding. The funding round was led by Prarambh Ventures, with additional backing from Inflection Point Ventures (IPV), Brigade REAP, FirstPort Capital, and prominent angel investors.

The company aims to offer its lending and insurance services, leveraging artificial intelligence to create innovative property evaluation tools. With the fresh capital, Navanc plans to accelerate its growth and further develop its proprietary technology, addressing critical challenges in the secured lending and insurance sectors.

Navanc plans to utilize the $1 million seed funding to expand its operations across India, focusing on strengthening its presence in urban and semi-urban areas. The company also aims to enhance its AI capabilities by incorporating generative AI and computer vision technologies. 

Founded in 2021 by Nagachethan S M, CEO, and Byomkesh Jha, CTO and Data Officer, Navanc leverages advanced technologies like artificial intelligence, IoT, and blockchain to deliver secure, transparent, and reliable property evaluation solutions. These innovations enable the company to address challenges in secured lending and insurance practices, creating efficient and data-driven processes for the BFSI sector.

The company’s AI-powered property score and stack provide comprehensive collateral reporting, improving credit decision-making and portfolio management. This streamlined approach reduces risks for lenders and buyers, offering precise, scalable, and transparent property assessments. Navanc’s solutions are designed to meet the evolving needs of banks, NBFCs, and other financial institutions.

Investors have expressed strong confidence in Navanc’s potential. Mitesh Shah, Co-Founder of Inflection Point Ventures, highlighted how Navanc addresses long-standing issues in property valuation by offering real-time, data-driven insights. Similarly, Sreenivas Ramarao of Prarambh Ventures talked about the company’s ability to deliver reliable and user-friendly products, while Abhay Garg of Brigade REAP praised Navanc’s use of AI and blockchain to revolutionize property transactions.

Currently operating in cities across six states, Navanc plans to extend its presence nationwide under its “Bharat Vision.” This initiative seeks to promote financial inclusion by making property lending and insurance more accessible and efficient across all states in India, driving transformation in the sector.