Bahrain-based property technology company, Estater, secures a $5 million Series A funding round
In a significant move for the PropTech industry, Bahraini-based Estater has recently secured $5 million in a Series A funding round. The investors for this round are undisclosed entities from Saudi Arabia and Bahrain.
Founded in 2009, Estater is a technology-driven revolution in real estate, as described by its Co-founder, Mr. Roobesh Modi. The company has been making waves in the region, offering a range of services that include real estate listings, digital transaction platforms, market insights, and collaborative partnerships.
One of Estater's unique features is its ability to provide property valuations. Users can access a property's value by selecting it on a map through the platform. This valuation is generated by taking into account more than 100 features of the property, using artificial intelligence and data science.
Estater's services are not limited to Bahrain. Relevant information for more than two million houses in various locations, including Riyadh, Khobar, Dammam, Jeddah, Kuwait, and Bahrain, is already digitized. The company's recent expansion into Qatar through a strategic partnership with Edara Holding further positions it as a leading GCC-based PropTech company.
The raised capital will be used by Estater to accelerate product development, strengthen its technological infrastructure, and increase employee growth. With these resources, Estater aims to continue its mission of revolutionizing the real estate sector across the Gulf region.
In addition to its digital services, Estater also operates a real estate consultancy business with over 100 clients across various sectors. The company's commitment to innovation and growth is evident in its successful track record and its latest funding round.
As Estater continues to grow and expand, it promises to bring more transparency, efficiency, and innovation to the real estate market in the Gulf Cooperation Council (GCC) region.