B2B Proptech Platform Altre Raises $1 Mn from Institutional Investors

Gurugram based Proptech startup Altre has raised $1 million in a pre series A round of funding from institutional investors, reported Economic Times.

Altre is essentially a B2B Commercial Real Estate tech platform aims to solve real world problems by automating and resolving commercial real estate needs with seamless efficiency, making the process faster, smarter, and more accessible, by powering the process with data-driven insights and Artificial Intelligence.

Founded this year, by Shweta Sawhney (Ex JLL, Cushman and Savills), Altre is India’s first digital brokerage platform servicing a Pan India footprint for enterprise clients.

Shweta Sawhney is an industry expert with over 20 years of real estate experience. She has facilitated transactions of over 35 mn sq. ft., and with Altre she is on a mission to make real estate more efficient and accessible through technology.

Currently Altre has over 2,000 properties listed across 300 million square feet of listings from Bangalore, Delhi, Noida, Pune and Gurugram.

As per the startup's LinkedIn profile, Altre aims to digitize the real estate transaction space across various use cases like leasing, buying/selling utilising data and AI to cater to the real estate needs of corporate occupiers. Altre offers a one-stop solution where businesses can easily search, discover, compare, shortlist, negotiate, and finalize their office, flexible, coworking, meeting rooms, or conference room spaces.

Earlier this month, an another Gurugram headquartered Proptech startup OfficeBanao raised funds from angel investors including former Meta India MD Ajit Mohan and former Colliers India CEO Ramesh Nair.

In start of this year, Landeed, touted as India's largest seed-funded proptech startup, had raised $ 8.3 million from prominent investors like Draper Associates, Y Combinator, and Bayhouse Capital.

Proptech Crib Raises 15 Crores in Seed Round from Founders of Paytm, Cred, Mamaearth and others

Bangalore based prop-tech startup Crib raises Rs. 15 crores in its Seed round co-led by We Founder Circle and Rebright Partners.

The round saw participation from 50+ renowned founders and tech operators like Vijay Shekhar Sharma (PayTM), Kunal Shah (Cred), Ghazal Alagh (Mamaearth), Ramakant Sharma (Livspace), Sandeep Aggarwal (Droom, ShopClues), Ravi Bhushan (BrightChamps, Housing), Ankur Aggarwal (Dunzo) along with various angel syndicates and funds like Imperier Holdings, FAAD, Rogue Opportunities, Sigurd Ventures, Beej Network, Dream Green Capital Venture, Supermorpheus Fund etc.

CRIB Founders

Founded in 2022 by Sunny Garg, Shaifali Jain and Archit Chauhan, Crib is a digital ecosystem that connects landlords, tenants and entrepreneurs. For landlords, Crib offers a SaaS based solution that drives operational excellence, streamlines finances and boosts sales making it a go-to platform for rental housing business owners. For tenants, Crib offers a new-age platform to explore and book properties while enjoying exclusive discounts.

“The real-estate as we know it today, belongs to the youth, the next generation that will soon be bound to take up the responsibilities of managing and growing their forefather’s investments. We at Crib are building the digital infrastructure to support these upcoming property owners by creating the ultimate property solution.” said Sunny Garg, Co-Founder & CEO at Crib.

Crib has recently announced its #BeAnEntrepreneur campaign with the intent to foster the spirit of entrepreneurship and self-reliance amongst students and early working professionals. This campaign empowers users to earn cash upto Rs. 2,00,000 by simply referring properties to their contacts. Now anyone and everyone can enjoy the hefty commissions that come with real-estate bookings.

“Within 12 months of launch, we have built a solid foundation across 10+ cities in India including Bangalore, Hyderabad, Pune, Chennai, Ahmedabad & Delhi NCR. At present, over 500 landlords managing upto 1,00,000 rental units are collecting an annual rental revenue of Rs. 900 cr. on Crib’s SaaS platform.” told Shaifali Jain, Co-founder, COO & CPO at Crib.

“I have known the founders since 2017 when they were building YourShell, their professional growth over the past 6 years combined with their persistent passion for the housing industry is a clear sign that they are the best team to crack this market.” said Neeraj Tyagi, Co-Founder WeFounderCircle.

“Real Estate Industry in India has the potential to become more efficient and transparent for all stakeholders through technology interventions. We are backing Crib to transform this Industry by bringing in new products and services for Landlords, Renters, Service Providers and Financing Partners” said Brij Singh, General Partner at Rebright Partners.

The company plans to use the funds to expand its product offerings, and scale distribution to all major pincodes in India.

India's 1st Listed PropTech Homesfy Forays into the International Market with A New Office in Dubai

Mr. Kiran Mhatre, Mr. Ashish Kukreja and Mr Mukesh Mishra

Mumbai-based Homesfy Realty Ltd., India’s first listed real estate tech-enabled brokerage firm, has expanded to Dubai. In the fourth quarter, Homesfy’s facilitated transaction value in India increased by 51%, which showcases the company’s remarkable growth.

As part of its strategic expansion plans, Homesfy seeks to broaden its horizons globally, with Dubai being its first port of call. Homesfy sees tremendous potential in the Dubai real estate market in the coming years. Its unparalleled network of tech-enabled agents will help achieve success in Dubai.

The impetus behind Homesfy’s expansion into Dubai stems from the highly auspicious growth curve of the Dubai real estate market. This growth is attributable primarily to the path-breaking policies adopted by the UAE government, which have been instrumental in driving a positive impact across the real estate industry.

In 2022, the Dubai real estate market experienced a massive upswing in sales to Indian buyers, raking in an impressive sum of ₹35,500 crores, almost twice the amount generated in the previous year. Of this total, Indian home buyers accounted for a notable 40%, positioning them as the leading buyer demographic in Dubai. These buyers mainly hail from major Indian cities such as Delhi-NCR, Ahmedabad, Surat, and Hyderabad and Punjab.

Mr. Ashish Kukreja, Founder & CEO, Homesfy. in, said, “Homesfy Realty Ltd. continues to ride the wave of success. We are thrilled to announce our latest endeavor of expanding our global footprint, with Dubai as the launchpad. Dubai’s progressive governance and trade policies and massive worldwide appeal has made it a popular destination among both real estate buyers and investors, and we aim to capitalize on this opportunity.”

Homesfy has consistently been a methodical real estate brokerage platform composed of highly imaginative sales, engineering, business, and marketing experts. Each of their products effectively bridges the trust deficit between home buyers and sellers through a refined and sharp approach.

The sales division in Dubai will be spearheaded by Mr. Mukesh Mishra (Head of Sales at Homesfy.in), a seasoned professional with insights into both domestic and international sales.

Mr. Mukesh Mishra, Head of Sales at Homesfy.in, said, “Despite volatile conditions and shifting consumer behavior, Dubai’s property market experienced record-breaking sales, volume, and value in 2022. Dubai has seen record-level demand in residential spaces in February 2023, and with an expected growth of 20% in the coming years, it has the potential to break all records. With a decade of experience in the Indian real estate market, we are ready to pitch in Dubai.”

Mr. Kiran Mhatre, Head of Sales - Dubai, who has over 20 years of experience, will also play a key role in the new territory alongside Mr. Mukesh Mishra.

Homesfy’s expansion to Dubai will undoubtedly provide Indian and international investors with a gateway to the booming Dubai real estate market, which has emerged as a beacon of growth and opportunity in recent years. The city will continue to attract HNIs and expatriates, asserting its position as a major real estate market.

About Homesfy

Homesfy.in, India’s first listed real estate firm, is one of the fastest-growing companies in the full-fledged, organized real estate industry. With over 400+ motivated team members spread across Mumbai, Pune, Delhi NCR, and Bengaluru, the firm partners with reputed builders in the country to facilitate their real estate sales. Founded a decade ago, Homesfy has been the preferred channel partner for builders and developers such as Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra, to name a few. In the last financial year, Homesfy collaborated with more than 106 developers.

Proptech Startup Landeed Raises $8.3 Mn in Seed Funding led by Draper Associates and Bayhouse Capital

Y-Combinator-backed Landeed co-founders (L-R) — ZJ Lin, Sanjay Mandava, Jonathan Richards

• Within four months of its launch, Landeed received 1.7 million searches for land titles across the seven states it operates in
• Landeed’s proptech approach is a consumer-centric product with enterprise capabilities leading to the search of property titles 10X faster

Landeed, India's largest seed-funded proptech startup, has recently hit the ground running by raising US$ 8.3 Million. This round witnessed the participation of investors led by Draper Associates, Y Combinator, and Bayhouse Capital.

With these investors backing, Landeed, the brand, aims to build India's fastest and most comprehensive property title search engine. This new funding is set to be utilised to infuse fresh talent into the company to support the accomplished team and further strengthen the technological infrastructure.

As India’s real estate market is expected to reach a size of US$ 1 Trillion by 2030, this funding presents the startup with a huge opportunity in the proptech market. Tapping into the industry need, the investment procured will be used in a manner to build for the maximum number of users to reach Product Market Fit. The start-up plans to hire ten more software developers to help it become an IaaS (Infrastructure-as-a-Service) provider for all real estate transactions.

Speaking on the announcement, Sanjay Mandava, CEO and Co-Founder of Landeed, said, “Landeed weaves together multiple government departments across various states producing a ‘plaid-like’ property summary data. Through our application, an individual can verify a property transaction ledger going back 20 years in 2 seconds. To make this happen, we built a standardised interface simplifying the multiple search methods across states into an intuitive and fluid user experience. This unique proposition has led our team to witness impressive revenue growth. We are grateful to our investors for placing their trust in our service as we work towards building the largest possible user base, making Landeed for the world, not just India!”

In a country, where 67% of all court cases deal with land-related disputes, founded in 2022, Landeed is simplifying property due diligence for all parties to engage, communicate, and close deals. Landeed simplifies the multiple search methods across states into an intuitive and fluid experience. The company is solving a very difficult and serious problem that no other company tried to solve. It collects all the data that is required by a land owner or buyer to ensure everything is in order with a particular property.

In order to become the primary hub and authority for real estate transactions in India, Landeed closed its oversubscribed seed round today at a $ 8.3 million. Six months prior to receiving the new funding, Landeed had already raised a pre-seed round from Justin Hamilton (CEO, Clutterbot), Goodwater Capital, Olive Tree, Manmohan Chandolu, Chris Maurice (Yellow Card), Christian Kaczmarczyk (Third Prime VC), AVCF Fund, and nine Y Combinator alumni.

Blox Raises $12 Mn in Largest Proptech Sector Investment in India

Largest proptech sector investment, Silicon Valley-based investors double down in new round of funding. 

Proptech start-up, Blox, announced today that it has raised USD 12 million in a Series A funding round – the largest in the proptech sector in India. This round was backed by earlier Silicon Valley investors and new strategic investors and angels, notably Kunal Shah, founder of CRED.

The funds will be utilized by Blox for market expansion, boosting the product portfolio, and building data infrastructure across customer, broker, and developer segments. 

Blox is a fully integrated online real-estate service that allows customers to make their home-buying experience as seamless as possible. Blox provides instantaneous site visits along with complete transparency and convenience through its comprehensive home-buying experience. A Relationship Manager is assigned to every home buyer to assist with virtual and physical site visits across the city. To sustain and further develop their capabilities, this round of funding will enhance the product development frameworks and streamline technologies to build a superior customer experience. It will also be utilized to expand Blox’s presence through market expansion and penetration, allowing Blox to service more developers and create a higher property density for customers to view more projects that are being serviced actively by the company.

Aditya Jhaveri

Blox Founder and CEO, Aditya Jhaveri, commented, "We are stoked to receive this round of funding from our existing Silicon Valley investors, new strategic investors and angels, along with Kunal Shah. It reaffirms their faith in our vision to lead India’s property technology transformation and disrupt the USD 100 billion real estate market. Blox was conceptualized with the aim to democratize real estate by keeping customers at the center of the equation and making real estate purchases joyful again, by delivering the end-to-end purchase process.

We understand that buying a home is the biggest decision for a family and we want to make sure that our customers have access to the best possible data insights, allowing them to make informed decisions based on transparency and trust. The Indian real estate sector has massive untapped potential and we are proud to be at the forefront of this growth opportunity. This round of funding bolsters our position as a market leader and gives impetus to our customer-driven approach.

Since its launch in 2020, Blox has been making waves in the real estate industry with its unique approach to home buying. The platform enables users to buy a home in less than 7 clicks, making it one of the most user-friendly platforms in India. With this latest round of funding, Blox is well-positioned to continue its growth trajectory and emerge as a leading player in the real estate space. 

About Blox - 

Blox is India’s first technology-based and consumer-centric real estate buying platform. It has built on its reputable stature and has gained the attention of several leading investors. Through its fully integrated online-to-offline system, Blox is revolutionizing the way Indians perceive buying and selling real estate. Blox also allows clients to compare properties fairly; owing to its price transparency, which has led to increased customer loyalty and satisfaction.

PropTech Firm, Homesfy.in, Raises $1.1 Mn from Marquee Investors Led by Girish Gulati, Ahead of Planned SME IPO

Mr. Ashish Kukreja, CEO & Founder with Team of Homesfy.

Funding will support the firm's expansion across multiple cities in India and fructify its plans to enter international markets

A fast-growing company in the real estate broking sector, Homesfy Realty, has raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.

The company is planning to list on the Indian bourses and has filed its draft red herring prospectus (DRHP) for SME IPO with NSE Emerge. The proceeds from the proposed offering will be used by the company for its Working capital requirements, General corporate purpose, and organic growth, the firm said in a statement.

"Real estate is poised to be a $1.5 trillion industry in the near future. As real estate developers consolidate market share via launches and construction velocity, they need the right partners to drive sales. Through the use of proprietary technology tools, rigorous processes, and talented sales agents, Homesfy simplifies the home-buying experience and is positioned to lead the channel partner sales for all major developers across India," said Girish Gulati, who is a veteran investor in the public equity markets. Gulati has led many small companies to scale while supporting them through his large network and ample experience.

“Buying a home for personal use or as an investment continues to be a popular choice in the country. Due to the pandemic, even the reluctant youth has realized the advantages of investing in hard assets. This, coupled with the regulatory framework coming into the real estate sector through RERA, has paved the way for a growing interest in real estate transactions. We, at Homesfy, started our journey with the aim to simplify the home-buying process. With the new strengths coming in and this fund-raise, Homesfy is committed to delivering growth to its employees and investors and satisfactory services to its customers,” said Ashish Kukreja, Founder & CEO at Homesfy.in & MyMagnet.io.

Currently, Homesfy is headquartered in Mumbai and has an operational presence in 4 cities in India including Pune, Bengaluru, and Delhi NCR. With a team strength of nearly 400 employees, the firm partners with all reputed builders in the country to facilitate their real estate sales. The company has recently initiated the process of acquiring EQServ, a Mumbai-based real estate broking firm that has been facilitating residential property sales for category A+ developers across the city.

Founded a decade ago, Homesfy quickly became self-sufficient and expanded to facilitate bookings totaling Rs 1,650 Cr on its platforms in the last financial year.

About Homesfy:

Homesfy Realty is a leading real estate brokerage platform with a presence across the top 4 cities in India. Homesfy has endeavored to spur the real estate industry towards value-added professional service where trust and confidence meet convenience and transformational business transactions.

Proptech Platform HomeXchange Raises Funds from HDFC Capital, Oberoi Realty and Anarock Group

Total funds of US $4 million being raised

Homexchange, India’s first instant home sale and upgrade proptech platform, today announced it has raised funds from HDFC Capital, Oberoi Realty and Anarock Group, taking the total funds being raised to $4 million.

The Mumbai-based startup helps consumers upgrade to new residential property in lieu of their existing property. It provides arm’s length market comparable offers on existing homes within just five days using its tech-driven pricing algorithms that combine actual market data across multiple parameters with deep domain expertise. It currently operates in Mumbai, Thane, and Bangalore and has executed transactions of INR 120 crores.

Homexchange plans to use the funds being raised to expand its geographic presence, strengthen developer partnerships, hire talent, and further build out its technology platform.

Commenting on this fund raise, Jesal Sanghvi, Co-Founder & CEO, Homexchange said, “We welcome HDFC Capital – their participation is a validation of the problem we are trying to solve and the opportunity ahead of us. Their unparalleled industry perspective and access is invaluable. Selling a home to buy a new one is stressful, uncertain, and takes months. Our vision is to simplify it and provide a quick, transparent, and seamless experience through our technology platform.”

In his comments, Vipul Roongta, MD & CEO, HDFC Capital, said, “We believe that technology is going to play an important role in transforming the residential real estate space. We are very happy to invest and partner with Homexchange as they are uniquely placed in solving a key problem in the fragmented residential real estate market by leveraging their deep domain, product, and technology expertise. HDFC Capital’s investment in Homexchange is through it’s HDFC Affordable Real Estate and Technology Program (H@ART) program that seeks to mentor, partner & invest in real estate technology companies bringing efficiency, transparency, and trust in the real estate ecosystem”.

Further, Ashutosh Mayank, Head of Digital & Innovation, HDFC Capital commented, “The adoption of sales tech is picking up pace in the residential real estate segment. We look forward to working with Homexchange as they formalize and simplify the residential real estate market.”

Added Shirish Godbole, Co-Founder & Chairman, Homexchange, “We’re a consumer-focused brand that brings customers, developers, channel partners, and lenders into a certainty-driven transactional environment. That is the big opportunity in a sector with $100 billion in transactions annually and is growing.”

Founded in 2020 by professionals with 60+ years of collective experience in real estate, it is India’s first instant home sale and upgrade platform which tackles bottlenecks in the secondary housing market head-on, enabling homeowners to quickly and seamlessly upgrade from their current residential properties to new homes from partnered developers, which include some of the industry's biggest names like L & T Realty, Rustomjee, Oberoi Realty, Puravankara, Assetz, and others. Homexchange’s proprietary process unlocks the equity stuck in existing homes of customers providing instant liquidity to fund the purchase of an upgraded property from one of their reputed developers’ partners. Customers get an offer in just 5 days, and the entire transaction can be completed in 30 days, eliminating the hassles and uncertainty of selling an existing property and upgrading to a new home. It currently operates in Mumbai, Thane, and Bangalore and has executed a little over INR 120 crore in transactions. Do visit http://www.homexchange.in/ for more details.. 

HDFC Capital is a wholly owned subsidiary of Housing Development Finance Corporation Ltd and is in the business of managing private equity funds focused on real estate sector in India. HDFC Capital also seeks to promote innovation and the adoption of new technologies within the real estate sector by investing in and partnering with technology companies.

HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), HDFC Capital Affordable Real Estate Fund 2 (H-CARE 2) and HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), which are registered with SEBI as a Category II Alternative Investment Funds. These funds combine to create a US$ 3 billion platform targeting the development of affordable and mid-income housing in India.

Housing Development Finance Corporation Ltd (HDFC), the pioneer of retail housing finance in India has as of March 31, 2022 assisted over 93 lakh families to own their house. HDFC’s strength has been its value-added services, delivered through a specialist team of trained and experienced professionals. HDFC has consistently had an impeccable record of customer friendly services.

HDFC has been described as a model housing finance company providing technical assistance and consultancy assignments for developing countries across Asia, Africa and East Europe.

Resale Focused PropTech 3.0 Platform Settlin Raises $1 Mn in Pre-series a Led by Powerhouse Ventures

Settlin Founders Ashish Srivastava & Sudhanshu

• Round saw participation from GSF Fund and marquee angel investors Murugavel Janakiraman (Founder & CEO, Bharat Matrimony) and Dinesh Agrawal (Founder & CEO, IndiaMART)
• Settlin is the only PropTech digital-broker focused on Resale Home Market
• Funds raised will be utilized for expanding their presence in Bangalore and digitizing the operations further
• The Company plans to launch its operations in Mumbai in the next 6-9 months
• Settlin has grown 4X in the last 6 months and has 17,000 curated properties and 90,000 buyers on its platform
• It aims to execute 24,000 visits and 800 transactions in the next 12 months

Settlin, a digital broker for resale homes, has raised $1 million in a pre-series A round from Powerhouse Ventures, Rajesh Sawhney founded-GSF Fund, and marquee angel investors Murugavel Janakiraman (Founder & CEO, Bharat Matrimony), Dinesh Agrawal (Founder & CEO, IndiaMART) and others.

Settlin provides end-to-end doorstep execution of residential property resale transactions. The Company maintains in-depth and accurate property profiles, physically inspects properties, and manages the entire transaction, including legal verification, home loan and sale deed. The Company has recently launched its app Settlin on the Google Play Store.

Selling or buying a resale home is a big pain point. Sellers have only lead generation platforms and brokers to get help from. Lead-gen platforms demand huge efforts in filtering the leads and managing operations. Local brokers with their limited bandwidth give a very fragmented experience. For buyers, just finding all options in one single place is impossible. They are then forced to visit the properties just to get the basic details like layout, built up area etc. If they like the property, they have to coordinate with multiple lawyers, banks, municipality, RWA, CAs to ultimately get a sale deed.

Settlin has grown 4x in the last two quarters and is currently helping 5000+ prospective buyers do 1200+ property inspections every month. It plans to use the new funds for expanding within Bengaluru, and fortifying their consumer-tech platform. It aims to execute 24,000 visits across Bengaluru in the coming 12 months leading to over 800 property sales worth Rs 600 crore.

Ashish Srivastava, Co founder & CEO, Settlin, says, “The residential resale market is 3 times that of new sale, and holds the key to truly organize the entire Real Estate transactions industry, forever. This ever growing sector remains unorganised and complex to crack because of its multiple moving parts. As a result, Proptechs and organized brokers mainly focus on the low hanging fruits i.e. being a property classified or doing developer sales (channel sales). Bringing even an iota of change in an industry this big needed in-depth understanding, careful planning and elaborate execution. Thanks to our team and investors, Settlin is now bridging the gap between lakhs of homebuyers and individual re-sellers through its hyper-local gigified approach which is both standard and personal at the same time. We are re-defining property transactions in all the ways that millions of consumers have dreamt of, many companies before us have promised, but no one could execute. ”

With its conveyor belt approach, Settlin is helping the consumers with an end-to-end doorstep execution of buying/selling resale homes - from online search to offline property inspections to online documentation, legal, loan and final sale deed registration. The right technology and the capability to execute millions of property inspections across geographies, have already made it a market leader in the segment pan India.

Kshitij Golwalkar, General Partner, Powerhouse Ventures, says, “Home buying experience in India is extremely fragmented. The experience with the resale of homes is even more broken. Settlin's digitization of the entire resale process, from curation to transaction, is rapidly changing the home buying and selling experience bringing end-to-end transparency and efficiency.”

Settlin’s strategy is to expand to 11 metro cities, starting with Mumbai, in the next 5 years covering 20% market share in Bangalore and 5% pan India.

About Settlin

Settlin is a first of its kind and end-to-end platform for ‘Resale and Purchase of residential properties’, offering services from property intent to registration. At Settlin, all available options are found at one place with 100% detailed property profiles. Physical inspection of the property can be scheduled with one tap and completed with the on-field assistance of Settlin’s white-collar gig-partners with hyperlocal expertise. The entire transaction including legal verification, home loan and sale deed is managed and home delivered via an App. It is executing 1200+ property inspections onto 1000+ different properties each month, resulting in 40+ closures.

About Powerhouse Ventures

Powerhouse Ventures (PV) is an early-stage Venture Capital firm with an investment focus on startups in India, the United States, and South East Asia. PV supports early-stage companies in high-growth sectors where technology is the driver. Currently, PV manages an active portfolio of 30+ companies spread across India, the United States, and Singapore and includes category-defining companies such as Whatfix, Slintel, Gamezop, NewsBytes, DailyRounds/Marrow, etc.

PropTech Startup Ivy Homes Raises $7 Mn in Seed Funding Round From Khosla Ventures, Venture Highway, and Others

Ivy Homes Co-founders (Pritam Thakur & Abhialash Narahari)

Ivy Homes raises $7 million in seed funding round from Khosla Ventures, Venture Highway, and other leading VC firms

The funds will be utilised to build product and expand the team

Ivy Homes, a new-age prop-tech startup that uses artificial intelligence and machine learning to provide instant liquidity to sellers, has raised $5.75 million in equity and $1.3 million in debt in a seed round of funding. The round saw participation from leading investors, including Khosla Ventures, Venture Highway, Y Combinator, GFC, Foundamental, Better Capital, and Titan Capital.

Ivy Homes makes instant offers to buy homes using AI and Machine Learning. It uses a machine-learning-based pricing algorithm to forecast the fair market value of a property based on more than 50 parameters. As a result, Ivy Homes serves a fairly vast market that has remained relatively unchanged in recent years. It provides a substantially more convenient option to selling by handling the whole process while also enhancing the experience of home purchasers for resale homes.

Speaking on occasion, Abhilash Narahari, Co-founder, Ivy Homes said, “The funding that we have raised is a big step toward realising our mission to deliver transparent solutions to the real estate sector. With our unique data and pricing engine, we aim transform what is a complex, painful and month-long ordeal into a transparent and predictable process.”

Pritam Thakur, Co-founder, Ivy Homes says, “Home selling is such a large problem to solve, and we believe the best way to deliver a superior customer experience is by being fully transactional.”

Commenting on the Ivy Homes fundraise, Priya Mohan, Partner at Venture Highway, said, “As the first institutional investors, we are excited to back founders who solve complex problems and deliver category-creating solutions. Abhilash and Pritam bring a combination of domain, previous start-up and tech experience, and in this we saw a strong founder-market fit. We believe Ivy Homes has the opportunity to create a tech-driven ‘never before seen’ customer experience for home sellers and buyers."

India’s 1st Tech Redevelopment Platform DreamsRedeveloped Raises Pre-Seed Funding Led By India Accelerator

Company to use funds to develop AI enabled Platform for Redevelopment ecosystem and expansion

Pune based Dreamsredeveloped, India’s first Tech Redevelopment platform has raised an undisclosed amount Pre-seed round led by Indian Accelerator to build their AI enabled Platform which connects the entire Redevelopment ecosystem and expansion.

A brainchild of CA S Lakshminarayanan who went through the Redevelopment process for his building understood the nuances of Redevelopment and built a platform from scratch to help Senior Citizens to navigate through this lengthy and complex process of Redevelopment. He also has created some parameters which can microfit clusters in the Cities and has received rave reviews from Citizens and Media alike.

Commenting on the deal, CA S Lakshminarayanan, Founder, said, “Having gone through the nitty-gritties of Redevelopment we are focussed on building a platform which provides a hassle-free experience to the senior citizens in their whole Redevelopment process, provides a good discovery and transparent platform for the Developers and also provides a gamut of services for the service providers like Architects, Lawyers, Liaisoning, Mediation, etc. Dreamsredeveloped has been well-received by the market and has been growing at a rapid pace in a niche market. We conducted India’s First Redevelopment Expo in December and the enthusiasm in which Property Owners and Developers participated provided us a good impetus and validated the whole Platform approach.”

CA Harish Menon, Co-founder, said “I am glad we utilised the opportunity and created a platform which is well-liked by Senior Citizens and youngsters alike in the Redevelopment ecosystem” 

Mona Singh, Co- founder, Indian Accelerator, said, "We believe in the Platform approach in an uncharted area like Redevelopment which would be a huge untapped market in bigger cities. Also having interacted with the Founders, we believe their hands-on knowledge will come in handy towards building a nationwide platform for Redevelopment."

Prop-Tech Startup Strata Crosses 500 Crore AUM Mark

Aims to upscale AUM to Rs. 900 crore by FY22, accelerate product development, and diversify investment offerings

• First proptech company in India to cross 500 crore AUM mark
• Doubled AUM from Rs. 240 crore to Rs. 500 crore in just 9 months
• Investor base witnessed 300% growth last year and currently has 1,500+ active investors and 20,000+ users
• 35 Lac is the average ticket size of investors
• Listed over 13 assets across states of – Maharashtra, Tamil Nadu, Karnataka, Telangana & Rajasthan
• Recently raised Series-A funding of USD 6 million led by Kotak Investment Advisors and Gruhas Proptech, a Zerodha owned fund

Strata, India’s leading tech-enabled commercial real estate (CRE) investment platform, is the first proptech company in the country to have crossed a significant threshold of 500 crores in Assets Under Management (AUM). The company recently raised $6 million in a Series-A round co-led by Kotak Investment Advisors Limited, Gruhas Proptech (an exclusive fund by Nikhil Kamath of Zerodha & Abhijeeth Pai of Puzzolana Group), and Sabre Investments.

The company which doubled its AUM from Rs. 240 crore to Rs. 500 crore in just 9 months also witnessed a massive jump of 300% in its investor base crossing 1500+, which comprises more than 20k+ active users. The company now aims to upscale its AUM by nearly 2X to reach ₹900 crore by April 2022. The company is eyeing a host of asset classes such as industrial assets, office spaces, warehouses, data centers, hotels, hospitals, among others. The company is also eyeing sale & leaseback deals with large corporations on long-term leases.

Strata, since its inception in November 2019, has offered a suite of high quality, commercial assets such as office spaces, warehouses and industrial facilities among others. Strata funded 150+ crore worth commercial property at Hosur. It made Strata the first proptech company to fund property worth 100+ crore, which witnessed 100% investment in 35 days of listing. Owing to its data centric approach, Strata has successfully pioneered to penetrate tier-II markets such as Jaipur wherein assets have witnessed full investment in just 15 days of the listing. This very data driven approach has also enabled Strata to identify newer and high potential markets while offering superior ROI to its investors.

The assets funded are situated across cities such as Bengaluru, Hosur, Hyderabad, Mumbai etc. Earlier this year, Strata raised Rs. 34 crore for its ‘E-Zone investment opportunity’ in Mumbai. A premium office located in Goregaon, the asset received 100% commitment from investors within just 48 hours of its listing. Additionally, the company raised Rs. 47 crore for another office asset unit located in the Financial District in Hyderabad. That asset too received 100% commitment from investors within just 4 working days since its listing.

Strata has been relentlessly working towards democratising the commercial real estate investment space in the country and has funded assets across the states of Maharashtra, Tamil Nadu, Karnataka, Telangana and Rajasthan. Strata was also the first proptech platform to offer warehouse investment assets through an online platform in India. The company raised Rs. 140 crore for a consortium of three grade-A warehousing assets amid the Covid-19 pandemic.

Commenting on the development, Mr. Sudarshan Lodha, Co-founder & CEO, Strata, said, “2021 has been an extremely special year for Strata as we have grown at a significant pace, adding 1 crore to our AUM everyday this calendar year, which has enabled us to double our AUM to Rs. 500 crore in just about 9 months. Being one of the pioneers in democratising CRE as an asset class in the country, Strata has been diligently working towards enhanced risk mitigation and client centricity, while offering robust returns to our investors. The milestone is extremely valuable as it is a testimonial of the unhindered faith our investors have invested in us and our transparent modus operandi. It will play an instrumental role in further strengthening our position as a trusted investment partner for both our clients and developers. We are committed to accelerating our growth journey from here while building and offering more inclusive and rewarding products for our investors.”

Through its tech-enabled platform, Strata empowers retail investors across the globe to invest in specific commercial properties in a particular location of their choice whilst offering good yields. Currently, the platform has over 20,000+ users along with an active base of more than 1,500 investors globally. Besides, it also offers a robust and trusted platform for real-estate developers all across the country to find investors for their assets. While 18% of the investor base comprises NRIs, others include HNIs, family offices, top management from Fortune 500 companies as well as UHNIs, and institutional investors.

Last year, in March 2020, the company had raised $1.5 million in seed funding co-led by Elevation Capital and Mayfield India along with participation from PropStack angel investors. Strata envisions to be the largest alternative investment platform in the country for retail investors by enabling them to invest in CRE assets—by democratising assets and offering it on an easy-to-use online platform.

About Strata Property Management

Strata is a tech-enabled commercial real estate investment platform that allows investors to own and sell units of pre-leased, Grade-A commercial properties such as office spaces, warehouses, industrial assets, etc. It is funded by marquee investors, Kotak Investment Advisors, Gruhas Proptech, Elevation Capital, Mayfield India, and others. Sourcing Commercial Real Estate and offering it on an easy-to-use online platform, Strata aims to democratize CRE, making it accessible for a much larger investor base. With its data driven asset selection and a single window platform to invest in assets across the country Strata brings in transparency, and ease of liquidity to CRE investments. Investors earn superior rental yields and can liquidate the investments whenever required. In a year’s time Strata has funded multiple assets amounting to an AUM of over 500 crore while also managing 80-90 Crores in asset management.

Brigade Reap, CIIC Sign MoU to Promote Startups in the PropTech Sector

Brigade Reap and Crescent Innovation and Incubation Council at the signing of MoU to promote Startups in Proptech Sector

Brigade REAP, Asia’s first real estate accelerator programme, has entered into a Memorandum of Understanding (MOU) with Crescent Innovation and Incubation Council (CIIC), a renowned academic institution based in Chennai to foster research and the development of start-ups in the field of Proptech. 

Through this MoU, Brigade REAP will be responsible for introducing the concept of Proptech to CIIC’s students and faculty through webinars, hackathons and other activities. CIIC will provide Brigade REAP with access to startups, students, their faculty and related facilities. 

The aim of the MoU is to identify at least three promising ideas in the Proptech space which can be scaled into promising businesses.

Commenting on the development, Nirupa Shankar, Executive Director, Brigade Enterprises Ltd., said -

The Indian real estate sector is slated to reach USD 1 trillion by 2030 and is expected to contribute around 13 percent to India’s GDP by 2025. Rapid urbanization driven by a fast growing, young demographic middle class and a gradually consolidating real estate scenario are some of the factors that are powering the growth and promising a vibrant future for Proptech in India. We feel that it is the right time to identify startups at the grassroot level itself and provide them with the required mentorship and assistance for go-to-market and further scaling of their businesses. CIIC’s focus on disruptive technologies has been one of the main reasons for us to partner with them.

As part of the MoU, Brigade REAP will identify and provide accelerator support to start-ups which have the product and the ability to scale into successful companies. Once a start-up is onboarded on the Accelerator Program, Brigade shall provide mentorship, assistance with designing and developing a business model, pricing, customer onboarding and various other services. 

CIIC on its part will provide Brigade with access to students and provide access to the laboratory, library and other facilities. CIIC will also share with Brigade REAP, research papers and other research related material, case studies and other studies which has been developed by the students and faculty.

During the one-year term of this MoU, Brigade REAP and CIIC will collaborate and discuss further ways in which the combined objective of fostering the growth of the Proptech sector can be achieved.

PropTech Platform Colive Launches Gurukool to Offer Community Engagement Programmes to Students

Students can bond with like-minded residents based on the interests though different clubs and socialise with housemates at the events hosted at the residences

Bengaluru, 21 Sep 2021: Colive, India’s leading prop-tech platform for rental accommodation, announced the launch of Gurukool, an initiative focused on college students. Gurukool is a community- building programme in which in-house competitions and contests like sports, gaming, talent shows, festive celebrations, karaoke and DJ nights are hosted. To make the programme engaging, there are clubs for like-minded people to bond and regular events hosted to socialise.

Colive offers fully-furnished rooms with chic and contemporary interiors. Colive properties have sprawling common spaces, tech-enabled safety features and an emergency response team. These are fully-managed homes with repairs and maintenance support, high-speed Internet, premium amenities and services, through the Colive App. Colive’s wide selection of premium amenities to unwind, relax and entertain residents include the cinema room to watch live sports, TV shows, movies and special screenings together. The terrace lounge with a star-gazing deck and barbecue set-up is specially designed for fun times. In the fitness room, one can sweat it out with fellow Colivers and use the PlayStation, play table tennis, foosball, darts, board games and more for a daily dose of entertainment. There is space for group study, brainstorming and socialising. The community kitchen comes fully equipped with all utilities.

Suresh Rangarajan, Founder and CEO, Colive, said, “the concept of co-living is more than just a place to crash after a day’s run. The pandemic created a push button for the sector by leveraging tech and driving the demand for all-inclusive stay facilities for students. In fact, Millennials are not looking for cheap or affordable stays anymore. They are looking for a safe and clean accommodation, uninterrupted WiFi and food. This clearly shows there is an upward swing in students getting back to cities who are also in need of accommodation. We realised the opportunity and decided to offer them more than a place to stay but to offer opportunity to socialise and engage with their peers to make the stay memorable".

Colive recently launched another initiative called #CoLiveAndLetLive to help deserving and needy Indian and Afghan students by offering a free-stay scholarship for a semester across all Colive properties in all 4 cities of presence (Bangalore, Chennai, Hyderabad and Pune). Students can apply for the scholarship via the application form bit.ly/coscholarship. Upon selection, the entire semester stay will be free for these students. Only food and consumables need to be paid for every month, while the stay will be completely free.

Rental Accommodation Platform Colive Announces 'Stay Scholarship' for Afghan Students in India

Suresh Rangarajan, Founder and CEO - Colive

Colive, India’s leading prop-tech platform for rental accommodation, launched #CoLiveAndLetLive to offer 100 stay scholarships for Afghan students stranded in India. These students need to complete an online application form, submit a 30-second video, along with all KYC documents, including FRRO registration and a bonafide college certificate, to apply for this scholarship. Students can stay rent free in any of the Colive properties spread across 4 cities (Bangalore, Hyderabad, Chennai & Pune) for the current semester or until December 31st, 2021. Colive has already received 15 applications, and five Afghan students have moved into Colive’s property in Bengaluru.

With the threat of bank accounts being frozen and limited contact with family back home, the mental stress that the students are going through is agonising. The initiative by Colive has been welcomed by Afghan students and their friends in the student community.

Suresh Rangarajan, Founder & CEO, Colive, said, “Attithi Devo Bhava” is a true Indian spirit and we wanted to do something in our control to offer comfort for the Afghan students who have come here to pursue their higher education. It is our small way of helping these deserving students to avail themselves of a stay scholarship that has been rolled out now!”

Abdullah Masoudi, an Afghan student, studying at Jain University said “This gesture from Colive shows the real heart of Indians and Indian startup ecosystem. We have only heard about their hunger for growth & valuation, but with this stay scholarship, shows the human side of business. Long live Colive!”

Anyone can spread the message by posting on social media handles about the stay scholarship with #CoLiveAndLetLive so that deserving Afghan students can apply.

In an earlier announcement, Colive offered stay scholarship for deserving Indian students pursuing higher education in urban markets across the country. Students need to fill in basic details online and share along with a 30 second video reel online. Upon selection, the entire semester stay will be free for these students. Only food and consumables need to be paid for every month, while the stay will be completely free.

Funding Alert - Prop-Tech Startup BricSpaces Raises USD 350K in Pre-Seed Round from Angel Investors

Business Wire India

Bangalore based startup BricSpaces which was incubated as first prop-tech in country by Embassy backed WeWorkLabs, caters to end real estate streams with digital transactions which is first of its kind in prop-tech space having raised 350,000 $ in Pre-Seed round from marquee unicorn co-founder of Freshworks, Shan Krishnasamy, serial tech investor Bharat Kapoor from 50k ventures & Eeva developer Vishal with other angels.
 
Speaking to the new development, Madhusudhan AV, Founder, and CEO, BricSpaces stated, “Real estate is highly fragmented and one of the most unorganized sectors in INDIA, Post discovery of the property, there is a major challenge in distribution of real estate which broadly caters to match-making the right product, legal clearances, contract reviews, negotiations, and payments. By digitizing using technology backend operations and by transforming day-to-day real estate management into seamless cloud-based platform, We have created a transaction management dashboard allows from discovery to booking in a single platform. We aim to bring transparency and easy accessibility in the industry.”
 
Currently, listing platforms are only dominated by residential sectors and there is a big need for end-to-end aggregation in Real estate. With over 100 years of real estate experience in the core team, currently, startup has understood the pain points of transaction complications especially un-regulated real estate streams like land, Plotted development, and warehouses. The startup is working with more than 1000 channel partners to enable the transactions in metros. There is a big need for quicker closures in primary transactions and this is possible using technology and human intelligence. today’s primary sales market is dominated by channel partners and in-house sales team with builders will be mostly eliminated in the coming days thus increasing the profit margins for the builders.
 
Within the first year of operations, BricSpaces has closed more than 40 crores of transactions and has pipeline orders worth 80 crores even during the pandemic. With large market of agent brokerage of 3b$ in INDIA annually, BricSpaces wants to be market leaders targeting one-third of the market share in the coming years with aggressive scale using technology.
 
BricSpaces vision is to digitize real estate experience. The startup is focused on millennials using the aggregator services in purchasing assets being quicker and transparent. The pandemic has created a higher need for stability and security that comes with owning assets. BricSpaces plans to scale up its team, which currently has over 20 employees in Bangalore, Chennai, and Mumbai. The company said it plans to add about 30 employees across different metros and take the total team size to 60 people by the end of the year. The company is currently hiring product engineers.