SG proptech firm bags $6.6m in series A money

Mogul.sg, an AI-driven property portal, has raised S$9 million (US$6.6 million) in a series A funding round led by Nech Capital.

Mogul.sg founder Gerald Sim / Photo credit: Mogul.sg

Founded by Gerald Sim in 2018, Mogul helps users find properties through a custom keyword search algorithm that uses geospatial data. It provides a library of over 5,000 custom keywords that help people look for locations based on specific characteristics and amenities.

Earlier this year, the startup launched an interactive 3D map in its property search portal to create a more immersive home-buying experience.

Residential developers such as Guocoland, Victory Land, and Amara Holdings have signed off on rendering their upcoming projects on Mogul’s 3D map for potential buyers to view.

The property portal said it has seen a 20% growth among active and new users since the beginning of the year, and property developers that have published 3D models on its platform have also witnessed an increase in revenue.

The fresh funding will be used to add additional features to the website’s 3D map – including indoor mapping and navigation – and provide additional data that will help users derive more accurate property valuations.

The Singapore-based company aims to eventually help people conduct property transactions directly on the platform.

See also: PropertyGuru’s financial health in 5 charts

Currency converted from Singapore dollar to US dollar: US$1 = S$1.37