Navanc Data Sciences secures $300K in its seed round of funding from angel investors

• ByStartupStory     |    June 24, 2022

Leading angel investors contributed $300K to Navanc Data Sciences Pvt. Ltd’s seed fundraising round. Other investors in the round included Subramanya SV (Founder of Fisdom), Kunal Shah (Founder of CRED), QED Innovation Labs, Chattanathan D (Founder of Arya.ag), Samit Shetty (Founder of Chaitanya Microfinance and Former CEO of NaviFinserv), and a group of technical angels lead by Vinay Bhat. The additional funding will assist the business in hiring engineers and preparing items for the market.

Nagachethan S. M. launched the Bengaluru-based Navanc in 2021. It offers comprehensive information about the asset or assets under consideration and aims to deliver real-time information on the goodwill of the property.

Through institutional partnerships with significant financial institutions, including lagHFC and a small finance bank, it is now evaluating its solution. The firm has previously participated in accelerator programmes including the Brigade Real Estate Accelerator Program and the ShelterTech Accelerator at Habitat for Humanity (Brigade REAP). Additionally, it was a champion for financial inclusion as a member of the Inclusion Initiative, a programme operated by the Startup Accelerator at IIM Ahmedabad.

Nagachethan S M, the founder of Navanc said, “Land and home is the second-largest asset class in India, after only gold, but it is significantly underleveraged. Home loans, working capital loans, and business loans—all mortgage-based loans—are common in India yet subject to time-consuming procedures and have uninformed consumers. Financial institutions frequently doubt an asset’s incapability, which causes loans to remain on their records as bad debt.” 

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