AI startup Track3D secures USD 4.3 million seed funding round led by Endiya Partners
Track3D, a cutting-edge technology platform for the construction sector, has secured USD 4.3 million in seed funding led by Endiya Partners, with additional investments from Shadow Ventures, Monta Vista Capital, and others. This funding will enhance Track3D's AI-powered reality capture data platform, designed for advanced construction progress monitoring. Co-founded by Chaitanya Naredla, Kiran Gutta, and Vineeth Paruchuri, Track3D offers a unique 'AI-first reality intelligence' solution that transforms raw visual data into actionable insights using drones, 360 cameras, laser scanners, and mobile devices. The platform has improved productivity by 15%, adherence to schedules by 12%, and reduced rework costs by 20%....
Proptech startup HouseEazy raises USD 7 million in Series A funding
Delhi-based property technology startup HouseEazy has raised USD 7 million in Series A funding led by Chiratae Ventures, with participation from Alteria Capital and existing investor Antler. The company plans to use the funds to drive growth in new National Capital Region (NCR) geographies, expand its footprint, enhance its products, and support team expansion. With a presence in Noida, Ghaziabad, and Gurgaon, HouseEazy aims to further expand its reach to cities like Pune, Mumbai, and Bengaluru. HouseEazy's platform utilizes machine learning to provide real-time pricing for sellers, enabling instant transactions at optimal prices, and offers comprehensive services for real estate resale needs....
REA India's revenue rises 31 percent to INR 563 crore in FY24
REA India, owner of Housing.com and PropTiger, reported a 31% revenue increase in the fiscal year ending June, reaching INR 563 crore, driven by strong residential property demand. CEO Dhruv Agarwala credited this growth to the company's innovative products, expansion in Tier-2 cities, and an app-first strategy that boosted app traffic by 45% in the latter half of the year. Part of Australia's REA Group, REA India leverages its platforms-Housing.com, PropTiger, and Makaan.com-to offer comprehensive real estate services. The company's strategic focus on digital engagement and emerging markets has solidified its market position....
Truva raises $3 million to expand proptech operations across Mumbai
Several prop-tech startups have recently secured funding, including Truva, a Mumbai-based real estate tech firm that raised USD 3 million in a round led by Stellaris Venture Partners. Notable individual investors, such as Myntra founder Mukesh Bansal and Curefoods founder Ankit Nagori, also participated. Founded in 2023, Truva offers a platform with detailed property listings, financing help, and features like natural light scores and 3D tours. The investment will support team expansion, product development, and scaling operations. Since its launch, Truva has facilitated transactions worth over INR 30 crore and plans to expand beyond Powai and Bandra....
Bhive Workspaces targets INR 800 crore IPO to double office space by FY26
Bhive Workspaces plans to raise INR 800 crore through an IPO in the next fiscal year to expand its flexible office spaces beyond Bengaluru, where 95% of its portfolio is concentrated. CEO Shesh Rao Paplikar aims to secure INR 500 crore from primary and INR 300 crore from secondary markets. With key investors like Blume Ventures, Bhive seeks to double its space to 4.8 million sq. ft. by FY26, adding 3 million sq. ft. in cities like Chennai and Delhi-NCR. This move aligns with the growing demand for flexible workspaces in India's top seven cities, currently housing over 53 million sq. ft....
Bigbasket launches BB matrix: A SaaS platform for streamlined supply chain management
Bigbasket, a leading Indian online grocery store, is venturing beyond groceries with the launch of BB Matrix, a software platform designed to streamline supply chains for businesses. BB Matrix operates as a Software-as-a-Service (SaaS) platform, accessible through a subscription model. The platform offers a Warehouse Management System (WMS), a Transport Management System (TMS), and an Order Management System (OMS). Bigbasket claims BB Matrix can reduce transportation costs by up to 50% and delivery times by up to 60%. The platform targets various sectors and international markets, marking Bigbasket's shift to broader business solutions....
Aurum Proptech reports reduced Q1 loss and 45% YoY income surge
Aurum Proptech, a leading real estate technology company, has reported a consolidated net loss of INR 10.70 crore for the first quarter of the current fiscal year, a significant improvement from the net loss of INR 16.12 crore in the corresponding period of the previous year. The company's total income saw a 45% year-on-year (YoY) increase, reaching INR 69.10 crore during the April-June period. Onkar Shetye, the Executive Director, highlighted the company's commitment to a balanced approach of robust growth and improving profitability, as evidenced by their annual run rate of INR 276 crore. Aurum Proptech's rental platforms, including Nestaway, now manage 30,000 rental units across various categories, and their distribution cluster, with B2B data analytics, marketing automation, and sales automation products, maintained consistent performance with robust YoY growth in revenue....
JLL and IBM launch global sustainability solutions for Commercial Real Estate
IBM and JLL have launched a global sustainability solution powered by IBM Envizi Technology, delivered by JLL's sustainability services team. JLL's Sustainability Program Management aids commercial real estate (CRE) companies in reducing carbon emissions, now enhanced by IBM Envizi ESG Suite for ESG reporting and data management. This solution addresses data management challenges as well as decision making in CRE. The IBM Institute for Business Value report shows low current ESG integration, but companies focusing on sustainability are likely to achieve higher profitability and revenue growth. JLL's initial rollout will enable thousands of client sites to adopt IBM Envizi software....
Kerala to invest INR 145 crore in new tech startup hub for 1,000 startups
Kerala Startup Mission (KSUM) is set to launch a global emerging technology startup hub at Technopark Phase IV (Technocity) in Thiruvananthapuram, focusing on Aerospace, Healthcare, Agriculture and Food, Digital Media and Entertainment, and Energy sectors. The detailed project report (DPR) has been submitted for government approval, with construction tenders to follow. Funded by INR 20 crore from the state budget and leveraging a public-private partnership model, the hub will house up to 1,000 startups in a 5 lakh square foot facility. Inspired by Kalamassery Startup Village, the hub aims to bolster Kerala's tech ecosystem by 2026....
Jugyah raises USD 1.5 million in funding for its proptech startup
Jugyah, founded in 2023 by Arshad Balwa and Ansuman Mohanty, raised USD 1.5 million in funding, with White Venture Capital, QED Investors, and Godrej Properties leading the round, along with other investors participating. The funds will help Jugyah expand within the Mumbai Metropolitan Region. Jugyah offers a real estate brokerage platform connecting buyers and tenants with sellers and landlords, along with services like mortgage origination, legal assistance, and loan financing. The company integrates digital and physical experiences to streamline home buying and renting. Jugyah expects to be cash flow positive by year-end and competes with Nobroker, Property Guru, and Housing....
India's PropTech sector thrives with USD 4.6 billion investments
India's PropTech sector, leveraging technology to transform real estate, showcases robust growth with USD 4.6 billion investments from FY 2011 to FY 2024, boasting a remarkable 40% CAGR, as per Housing.com. Despite global economic uncertainties, PropTech remained resilient, attracting USD 657 million in FY 2024. Shared Economy and Construction Technology emerged as key segments, capturing 78% of total investments, signaling a transformative shift in workspace dynamics and construction processes. With innovations driving efficiency and cost-effectiveness, PropTech's continued growth underscores its pivotal role in reshaping India's real estate landscape for enhanced flexibility and sustainability....
Leading Indian proptech firm Square Yards has reported strong financial performance for fiscal year 2024 with 50% revenue growth to INR 1000 crore and achieving EBITDA profitability for the full year. The company also reached operating cash flow breakeven in H2FY24. With a three-year CAGR of 60%, Square Yards is targeting growth to INR 1500 crore revenue for FY2025 while aiming for double-digit margins. Over 88% of revenue came from real estate and financial services, facilitating over 165,000 transactions worth USD 5 billion. Growth was primarily led by an 80% increase in financial services....
hBits to become first company to be registered as an SM REIT
Fractional real estate platform hBits plans to register with SEBI as India's first Small and Medium Real Estate Investment Trust (SM REIT) within three weeks. Seeing an opportunity in the new SM REIT regulations notified in March 2024, hBits will look to capitalize on being the first registered entity. They currently manage INR 365 crore in assets and aim to reach INR 1,000 crore this fiscal year. As an SM REIT, hBits will raise funds for new assets on an individual basis, treating each new listing as a mini-IPO for investors to choose from. The SM REIT structure makes commercial real estate investing highly accessible for retail participants by reducing the ticket size to INR 10 lakh....
Accacia secures USD 6.5 million in pre-series A funding round by Illuminate Financial
Accacia, spearheading the charge in sustainable real estate technology, has secured a significant USUSD 6.5 million pre-Series A funding round led by Illuminate Financial. Founded in 2022 by Annu Talreja, the company offers AI-powered software solutions to track and reduce greenhouse gas emissions in the real estate sector. This investment underscores the growing demand for environmental solutions within the industry, with Accacia poised to lead the charge in creating a more sustainable built environment. Other proptech innovators, like BuiltWorlds, Fundwise, and Patch, are also attracting investor interest with their unique approaches to tackling sustainability challenges in real estate....
CREDAI launches USD 100 million proptech fund amidst rising real estate tech growth
Proptech start-ups that use technology to transact real estate have become more prevalent as a result of the real estate market's explosive growth in India, especially in the residential segments. Notably, NoBroker and Livspace are two that have attained unicorn status, with more on the verge of doing so. Seeing this trend, CREDAI, in collaboration with Venture Catalysts and Neovon, established the USD 100 million Spyre Proptech Venture Fund. Promising proptechs are the focus of the investment, with a sizable chunk already secured through promises. Spyre Proptech Venture Fund aims to stimulate innovation in India's real estate technology industry by providing a varied pipeline of start-ups....
Home improvement startup Arrivae secures INR 21 crore funding
Arrivae, a design-to-manufacture home improvement company, has secured INR 21 crore in fresh funding led by Mithun Sacheti, founder of CaratLane. The investment will fuel Arrivae's expansion plans in existing markets like Mumbai, Hyderabad, Gurugram, and Bengaluru, focusing on enhancing supply chain efficiency and customer accessibility. Offering comprehensive solutions for home renovations, Arrivae plans to utilise its vast catalogue of over 1 million design elements to personalise spaces. With Sacheti joining the board of directors alongside other prominent investors, Arrivae is well-positioned to capitalise on the growing demand for customised home improvement solutions in India....
Meeting Demand: CRIB's cost-effective solution for property owners and tenants
CRIB Property Solutions, a Bengaluru-based startup founded in 2021 by Sunny Garg, Shaifali Jain, and Archit Chauhan, has made significant strides in revolutionizing property management in India. Their app, utilized by over 1,000 landlords managing 2,500 properties with 150,000 beds nationally, generates a rental income of INR 2,500 crores. CRIB Plus, their premium version targeting the burgeoning student housing and co-living markets, received a USD 1 million investment to tap into India's projected real estate expansion. With a focus on Karnataka and Tamil Nadu, CRIB's user-friendly apps optimize tenant management, rent collection, and communication, offering cost-effective solutions at less than INR 100 per bed monthly....
Aeria secures USD 1.8 million in pre-seed funding round for expansion in Asian market
Aeria, a commercial real estate asset management platform, secured USD 1.8 million in pre-seed funding led by Kalaari Capital and Foundamental, with participation from AC Ventures, AL Trust, and angel investors. The investment aims to expand operations across Southeast Asia, the Middle East, and other Asian regions. Aeria utilises technology and AI to enhance office building experiences, targeting an estimated 52 billion square feet of commercial real estate in the Asia Pacific. By digitising operations and automating tasks, Aeria addresses fragmented infrastructure, offering a comprehensive solution for facility and tenant management. Proptech funding has surged, with Aeria's funding contributing to the sector's growth....
Proptech firm Reloy hits milestone with INR 1,200 crore referral sales in CY23
Reloy, a proptech startup, has set a key milestone by exceeding INR 1,200 crore in referral sales in fiscal year 23. Reloy is based on a unique, RERA-compliant strategy that stresses customer satisfaction and incentivizes builders through satisfied homeowners. Reloy manages a large portfolio of 1.5 lakh units valued at more than INR 1.30 lakh crore and has nationwide collaborations with industry giants such as Godrej Properties and DLF. Founder Akhil Saraf attributes success to innovative reward programs and a network of 30,000 channel partners. Reloy's emphasis on creating excellent homeowner experiences strengthens its position as a reliable partner in the real estate industry....
Spyre Proptech to raise INR 400 crore in the first phase of a INR 800-crore fund to invest in proptech start-ups
Spyre PropTech Venture Fund, backed by Venture Catalysts and NeoVon, aims to raise INR 400 crore in the first phase of an INR 800 crore proptech sectoral fund, with support from CREDAI. The fund, granted approval by SEBI, plans to invest in over 30 Indian proptech startups at various stages of development. Venture Catalysts, India's first multi-stage venture capital firm, is the seed investor and co-sponsor of Spyre, bringing significant expertise and experience to the fund, which is set to play a crucial role in fostering technological innovation in the Indian real estate sector....
Crib launches Crib Plus; a premium solution for student housing and co-living markets
Crib, a property management app founded in 2021 recently introduced Crib Plus, a premium version aimed at the burgeoning student housing and co-living markets in India. With an investment exceeding USD 1 million, Crib Plus intends to target the burgeoning rental market that is expected to surpass USD 20 billion by 2024. Offering streamlined operations and cost reduction benefits, Crib Plus aims to empower operators with comprehensive management tools and enhance brand presence. With over USD 2 million in funding from esteemed investors, including Vijay Shekhar Sharma and Kunal Shah, Crib is poised for continued growth and innovation in the real estate tech sector....
Innovative AI property analyzer by Landeed promises enhanced property title understanding
Landeed, a leading prop-tech startup, has unveiled India's premier AI Property Analyzer feature, a tool set to revolutionize property title analysis in the country. This technology provides a detailed ownership history of properties, simplifying title flow and enhancing accessibility for brokers, landlords, and landowners. By automating document analysis and retrieval, including Encumbrance Certificates and 7/12 records, Landeed's AI analyzer empowers users to navigate complex property documents effortlessly, saving time and minimizing errors. With overwhelming traction and positive reviews since its launch, Landeed is poised for further success in reshaping the Indian real estate landscape....
Strata launches INR 78 crore investment offering in Viman Nagar, Pune
Strata, a leading player in India's tech-driven commercial real estate sector, has introduced a cutting-edge investment opportunity – fractional ownership of a Grade-A office space in Pune. Targeting INR 78 crore, the venture gained remarkable traction, securing over INR 38 crore within the first 48 hours. The 53,000 sq. ft. property in Viman Nagar, Pune's IT hub, features a strategic location with a five-year lock-in lease agreement, offering a 9.1% gross entry yield and a total Internal Rate of Return (IRR) of 13.1%. With a tenant commitment from India's largest flex working space provider, Strata continues to democratize high-end commercial real estate investment through fractional ownership, backed by notable institutional investors. This move highlights a growing trend in making commercial real estate accessible to a broader investor base....
L&T and Tata Realty lead India's shift towards prefab and precast construction
India's real estate and construction sector is evolving with Larsen & Toubro and Tata Realty & Infrastructure spearheading the adoption of advanced building methods, particularly prefabrication and precast technology. Despite challenges like design limitations and high logistics costs, clients favour prefab construction for its speed and efficiency. Government initiatives like 'Housing for All' utilize precast technology for residential units. While only a small percentage of the over USD 100-billion real estate market in India currently employs prefab methods, the sector is gaining traction, especially with an evolving homebuyer perception. Challenges, including initial investments and the demand for skilled labour, persist, but experts believe experience will overcome these hurdles, fostering widespread prefab acceptance....
Settl secures Rs 10 crore in funding to drive expansion in the co-living space
Settl, a prominent co-living operator, has secured Rs 10 crore in its pre-Series A funding round, led by Gruhas and We Founder Circle, among others. The investment boosts Settl's total funding to Rs 15 crore. Founded in 2020, Settl operates 60 co-living centers across major cities, offering 4,000 beds catering majorly to working professionals. With rental prices ranging from Rs 12,500 to Rs 18,000 per bed, Settl addresses the expanding premium co-living market. The fresh capital infusion will help strengthen working capital, expand the team, and enhance technology infrastructure, supporting the company's growth and expansion plans in India's thriving co-living sector....
Drone-Led Revolution: Pune Cantonment’s Tax Assessment Innovation
The Dehuroad Cantonment Board (DCB) in Pune utilised drone technology for a successful property tax reassessment, resulting in a fourfold revenue increase. Amit Mane, the defence estate officer, initiated the first-of-its-kind drone survey spanning nine villages and 11 slums. Recognizing the innovation, the Ministry of Defence awarded the DCB for its public service contributions. The collaboration with the College of Military Engineering’s dedicated team and the use of accurate drone images facilitated a smooth transition to the updated property assessments. Despite objections from 7,000 citizens, the cantonment authorities conducted 3,000 hearings, explaining the new assessment method to citizens and effectively addressing their concerns....
Proptech platform Strata hits Rs. 1300 crores AUM milestone, expands into western markets
Strata, India's leading proptech platform for fractional investments in commercial real estate (CRE), aims to surpass Rs. 2000 crores in assets under management (AUM) by the end of fiscal year 2023-24. Already crossing Rs. 1300 crores and 3.5 million sq. ft. in assets, Strata achieved remarkable 50% growth in AUM over eight months. With a 100% surge in its investor base, exceeding 3000, and 80,000 active users, the platform plans to expand its presence in western India. Strata's CEO, Sudarshan Lodha, highlights commitment to SEBI's regulatory changes, emphasizing transparency, risk mitigation, and unlocking opportunities in emerging markets like Pune and Jaipur....
Uttar Pradesh pioneers India's first AI city in Lucknow for comprehensive development
Uttar Pradesh is set to launch India's inaugural AI city in Lucknow, spread across 40-acres in the Nadarganj Industrial Area. An Expression of Interest has been extended to real estate developers, promising financial incentives like Capex support and stamp duty exemption. The AI city aims to integrate advanced technology, research centres, and educational institutions, fostering an ecosystem conducive to AI and MedTech. The plan envisions plug-and-play infrastructure, premium Grade- A office spaces, a mix of housing options, and AI-driven internal transport, aligning with a walk-to-work model and dedicated spaces for academic collaboration....
Proptech firm HouseEazy secures $1 million in seed funding led by Antler
HouseEazy, a proptech specializing in home resale, secured a significant $1 million seed funding from investors including Antler, India Accelerator, and industry leaders like Pirojsha Godrej and Sandeep Aggarwal. The funds will fuel HouseEazy's mission to bring trust, transparency, and efficiency to secondary real estate transactions through a data-driven technological platform. The surge in proptech funding, totaling $4 billion since 2009, reflects the industry's accelerated integration of technology. Notable proptech ventures securing funding include NoBroker.com, Reloy, Property Pistol, Landeed, and newcomers Crib and Settl., highlighting the sector's dynamic growth and transformative potential....
NILA Spaces launches VisionX program with $1 million investment for prop-tech start-ups
Real estate firm NILA Spaces is making a forward-looking move by investing $1 million in its innovative VisionX Program, aimed at supporting early-stage prop-tech start-ups in India. Managed by Awfficacy Capital, the 12-week rolling accelerator program provides financial backing and essential phases like business planning, strategy development, and market research. Participants receive personalized mentorship, access to the prop-tech network, and immersive sessions on business development. The program focuses on scalability and explores technological advancements in real estate. The initiative aims to shape the future of the prop-tech sector in India through comprehensive support and a focus on sustainability....
Revolutionizing Land Management: UPECL plans ILDNS for Meerut's Development Authority
The Uttar Pradesh Electronics Corporation Limited (UPECL) is developing an Illegal Land Use Detection Notification System (ILDNS) for Meerut, aimed at curbing unauthorized land use. Through a common portal, ILDNS will streamline 13 processes, including property registration, lottery draws, and e-auctions. It encompasses user management, finance systems, parole management, and more, fostering transparency and digitization within the Meerut Development Authority (MDA). The ILDNS initiative, backed by cloud housing and cybersecurity measures, is set to enhance workflow management, fortify MDA's processes, and set the stage for comprehensive digitization across various modules, bringing transparency and efficiency to land-use operations in Meerut....
Assetmonk forays into fractional ownership in Bengaluru with the launch of AM Whitefield
Assetmonk has introduced its latest venture, AM Whitefield, offering retail investors the chance to participate in Bengaluru's Grade A commercial property landscape. Developed by the Brigade Group, this LEED-certified property is situated within Brigade Tech Park in Whitefield, covering an entire floor, spanning 32,300 square feet, and featuring 31 leased car parking spots. The property is currently occupied by a leading American multinational. With a targeted internal rate of return (IRR) of 16%, an initial rental yield of 8.50%, and a capital multiplier of 1.8 over 4-6 years, AM Whitefield aims to be a significant investment opportunity through its fractional ownership model....
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