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Kunal Shah-backed Blox buys into real estate advisory firm Guardians

VCCircle · 7m

Blox, the proptech platform backed by Kunal Shah, is acquiring an 11% stake in Mumbai-based real estate advisory firm Guardians for around $12 million. Blox plans to increase its stake to 50% over the next three years as part of its expansion strategy. The company aims to consolidate its market share in Mumbai before expanding to other cities like NCR and Bangalore. With this acquisition, Blox aims to increase its gross transaction value to $10 billion in the next five years. Previously, Blox acquired real estate brokerage firm Justo and Plinthstone REMA.