PropTiger, an online property website targeting first-time homebuyers has raised Rs 25 crore from Saif Partners and Accel Partners.  Post funding, Ravi Adusumalli of SAIF and Prashanth Prakash of Accel have joined PropTiger’s Board. The funds raised will be used to further strengthen PropTiger’s position in India’s across 8 cities where it operates and increasing head count to 500 real estate experts by mid-2013.

PropTiger Realty Private Limited was founded in February 2011 by Dhruv Agarwala, Kartik Varma and Prashan Agarwal. Dhruv And Karthik earlier founded iTrust Financial Advisors Pvt Ltd, which was acquired by Karvy Private Wealth in 2011. iTrust offers services like financial planning and filing of income tax returns and also runs personal finance portal iTrust.in. PropTiger claims to have sold a total of 2.2 million square feet of residential real estate across India and achieved a gross value of property sold amounting to Rs 1,100 crore since inception. The company's target is to reach Rs 10,000 crore of gross value of property sold by 2016.

Recently, Accel Partners along with Blume Ventures and Mumbai Angels invested $1.2 mn in Hotelogix -cloud-based hospitality solutions provider.Accel partners also invested $6Mn in Zansaar - E-retailer of home decor products along with Tiger Global. SAif Partners along with IDG Ventures invested $14 Mn in Brainbees Solutions Pvt Ltd which owns FirstCry.com and Goodlife brand.

Last year, Mumbai-based RCSPL, which owns real estate group buying portal Groffr.com raised its first round of funding from Indian Angel Network. Bessemer Venture Partners, Mayfield Fund and Canaan Partners invested R100Cr in Consim Info Pvt Ltd which runs an online job portal (ClickJobs.com) and a property website (IndiaProperty.com) apart from BharatMatrimony.com.