Proptech firm Square Yards has raised $35 million in a fresh equity round. The round was led by Smile Gate Group, with further participation from existing investors.
According to a VC Circle report, sources close to the deal say Square Yards had a pre-money valuation of $900 million, with the firm planning to float at a valuation of at least $1.5 billion in 2026.
Square Yards is a diversified PropTech platform and real estate marketplace. For consumers, it offers a comprehensive suite of services spanning new home listings and existing property sales (Square Yards), property management (azuro), home renovation and interiors (Interior Company), and real estate–focused financial services (Urban Money).
In its second quarter filings for the 2026 financial year, Square Yards recorded a profitable turnaround from 2025, turning a loss of $5.6 million into a profit of $2.6 million. The company has achieved profitability in the past four consecutive quarters, and the India business now accounts for 85 per cent of total revenue.
VC Circle also reported that two unnamed global investment funds are in advanced talks to invest an additional $100 million of cash and debt into Square Yards.
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