India, Nov. 27 -- IPO-bound proptech startup Square Yards has raised $35 Mn (about INR 312 Cr) in a funding round led by South Korea-based Smilegate VC, with participation from existing investors, sources told Inc42.

The Delhi NCR-based startup raised the funds at a pre-money valuation of $900 Mn, the sources added.

Square Yards is also in advanced discussions with a few funds to raise an additional $100 Mn in a mix of equity and debt at a post-money unicorn valuation, which will mark its entry into the coveted club, the sources added.

The development was first reported by VCCircle. Inc42 has reached out to Square Yards for comments on the development. The story will be updated on receiving a response.

Notably, Square Yards is current...