The Economic Times is reporting that India's Quikr has acquired Indian Realty Exchange, a mobile real estate agent aggregator, for an undisclosed amount.
Founded earlier this year by Vikram Dhawan and Karan Jindal, Indian Realty Exchange tags agents and brokers with real time projects and locations and helps users connect with them to buy and sell property.
The company said that the deal will bolster QuikrHomes and allow it to go deeper into the real estate market and increase long-term engagement with the broker community.
In April, Quikr had raised $40.5 million from AB Kinnevik and had said that it would use the funds to invest in its mobile business and strengthen its hold in categories like goods, cars, real estate, jobs and services.
Quikr launched QuikrHomes in September and the portal allows users search for residential, commercial or agricultural properties to either buy or rent, in various cities like Pune, Delhi, Chennai, Bangalore, Mumbai and Hyderabad.