Proptech firm Blox acquires a controlling stake in real estate brokerage firm Justo, aiming to expand its footprint and democratize AI technology in the Indian real estate market.
New Delhi, Jan 5 (PTI) Proptech firm Blox on Friday said it has acquired a controlling stake in real estate brokerage firm Justo.
Established in 2020, Blox is an AI-enabled real estate service provider that ensures seamless home-buying experiences.
In a statement, Blox said it has acquired controlling stake in Justo. The company did not disclose the deal value.
Sources said the deal has been struck at an enterprise value of Rs 350 crore.
Aditya Jhaveri, Founder and CEO, Blox, said this strategic acquisition signifies its commitment to expanding its footprint across India and democratising cutting-edge AI technology for all stakeholders in the real estate buying and selling journey.
The Blox group, now including Justo, aims to capture approximately 10 per cent market share of primary real estate across the top-seven real estate cities in the next 12-18 months.
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