The Land Bankers (TLB), a property technology startup founded by former NestAway co-founder Amarendra Sahu, has raised Rs 8 crore in a seed funding round. The investment was led by Rainmatter, the startup funding arm backed by Zerodha, along with participation from investors including Ashish Gupta, K2 Capital, CRED founder Kunal Shah, and Tracxn co-founder Abhishek Goyal.
The fresh funding comes as the startup looks to expand its services and strengthen its technology platform that helps people manage and verify land ownership more easily.
Startup Uses AI to Simplify Land Ownership
Founded in 2024 under NFNG Tech Private Limited, The Land Bankers is based in Odisha and was incubated at the IIT Bhubaneswar Research and Entrepreneurship Park. The startup aims to solve one of India’s biggest property-related problems—understanding and verifying land ownership records.
Its platform uses artificial intelligence to collect and analyse publicly available land records, court cases, government development plans, and satellite images. The company then presents this information in a simple format that is easier for property owners and buyers to understand.
One of the platform’s main features is its AI-powered “LandScore,” which helps users assess possible legal and ownership risks linked to a property. The platform also connects customers with experts such as retired Tehsildars, sub-registrars, and property lawyers who can assist with document verification and dispute resolution.
Apart from title verification, The Land Bankers provides plot history reports that show previous ownership changes and mutation records. It also conducts physical surveys to confirm land boundaries and identify possible encroachments through geotagged photographs.
The company has also introduced a remote monitoring service, especially useful for NRIs and people living away from their properties. Under this service, land parcels are checked every three months to identify any unauthorised activities or ownership changes.
The startup recently completed a three-month pilot programme in Odisha, serving around 1,100 customers across all 30 districts of the state. Following the successful pilot, the company plans to expand into Karnataka and Tamil Nadu.
Funding Pushes Valuation to Rs 67 Crore
The latest investment has valued The Land Bankers at around Rs 67 crore after the funding round. According to company filings, the board approved the issuance of 1,597 compulsorily convertible preference shares at Rs 49,764 per share.
Rainmatter contributed Rs 6 crore, making it the largest investor in the round. Other investors also participated with smaller investments, showing confidence in the company’s growth plans and business model.
After the funding round, founder Amarendra Sahu continues to remain the largest shareholder with a 65.48% stake in the company. The employee stock ownership plan (ESOP) pool holds 13.20%, while Rainmatter owns 9.03%. The remaining shares are held by other investors and shareholders.
The startup plans to use the newly raised capital for working capital needs, technology development, operational expenses, and expansion into new markets.
Amarendra Sahu Returns to Proptech After NestAway Dispute
The funding round has also brought attention back to Amarendra Sahu, who previously co-founded and led NestAway, one of India’s well-known home rental platforms.
Founded in 2015, NestAway raised more than $100 million in funding and reached a valuation of around $220 million in 2019. However, the company was heavily affected by the COVID-19 pandemic, leading to a sharp fall in its valuation. In June 2023, NestAway was acquired by Aurum PropTech in a deal reportedly worth Rs 90 crore.
Following the sale, Sahu became involved in a legal dispute with his former co-founders and some of the company’s investors. He alleged fraud, cheating, forgery, and other irregularities related to the sale process. Sahu claimed that he had been promised additional compensation for supporting the transaction, but the commitment was later withdrawn.
He also questioned the use of certain documents related to the acquisition. However, the accused parties denied the allegations and argued that similar claims had previously been raised before legal authorities and were not accepted. They maintain that the sale process was conducted properly.
Despite the controversy, Sahu has returned to the proptech sector with a new venture focused on solving land ownership challenges through technology.
The launch of The Land Bankers comes at a time when India’s proptech industry is recovering from a slowdown. After funding dropped significantly in recent years, investor interest has started to return. Industry data shows that proptech startups attracted more than $550 million in funding during 2025, indicating renewed confidence in technology-driven real estate solutions.
With fresh funding, growing customer adoption, and plans for expansion, The Land Bankers is aiming to build a stronger presence in India’s evolving property technology market.