01 Aug 2024

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.Read more

31 Jul 2024

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.Read more

29 Jul 2024

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.Read more

12 Jun 2024

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.Read more

13 May 2024

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.Read more

09 May 2024

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.Read more

30 Apr 2024

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.Read more

29 Apr 2024

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.Read more

17 Apr 2024

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.Read more

PNT Reporter

02 Apr 2024

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.Read more