PNT Reporter

01 Apr 2024

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.Read more

12 Mar 2024

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.Read more

28 Feb 2024

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.Read more

26 Feb 2024

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.Read more

19 Feb 2024

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.Read more

02 Feb 2024

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.Read more

19 Jan 2024

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.Read more

05 Jan 2024

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.Read more

03 Jan 2024

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.Read more

02 Jan 2024

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.Read more