PropTech Radar 29th Feb 2024,

FUNDING HIGHLIGHTS

Furniture rental startup Rentomojo raises $25 Mn. in funding round led by Edelweiss Discovery

Rentomojo registered a revenue of Rs 121 Cr. in FY23 compared to Rs 98.6 Cr. in FY22. During the period, the firm turned profitable with Rs 6.19 Cr. profit against Rs 13.5 Cr. loss in the previous fiscal year.

CREDAI-Backed Spyre VC Fund slashes target corpus by half for PropTech Fund

The fund has received regulatory approval as a category-ll alternative investment fund & aims to tap into the growing real estate market. However, the target corpus for the fund has been slashed by half due to market dynamics.

Construction Unicorn Infra. Market Looks To Raise $60 Mn. Debt

The Mumbai-based company will be raising this capital in multiple tranches over the next two months, as per the resolution passed by Infra. Market’s board of directors. In FY23, Infra. Market’s sales jumped 90% to INR 11,846.5 Cr. in FY23, while profit dipped 17% to INR 155.2 Cr..

MARKET MOVERS

PropTech startup Crib to invest $1 Mn. in digitising student housing and co-living market

PropTech startup Crib invests $1 Mn. in 'Crib Plus' to digitize India's student housing and co-living market, serving over 1000 landlords managing 2500 properties and 1,50,000 beds. Founded in 2021, Crib targets an annual rental exceeding Rs 2,500 Cr. and aims to cater to large-scale student housing and co-living brands.

PropTech Startup Landeed Launches India's First AI Property Analyzer

Currently in beta, the AI Property Analyzer represents a groundbreaking advancement in the analysis and understanding of property titles, poised to redefine the Indian real estate market.

INDUSTRY INSIGHT

Housing prices jumped nearly 20% from 2021 to 2023 - The Economic Times

Housing demand in top eight cities in India has led to a 20% rise in home prices over the last two years. This can be attributed to favourable interest rate cycles, positive economic outlook, and growing confidence among home buyers. Bengaluru, Delhi NCR, and Kolkata have witnessed an unprecedented surge in average housing prices.

Mumbai breaks into world’s top 10 luxury residential markets, now ranks 8th

Mumbai has emerged as one of the world's top 10 luxury real estate markets, thanks to sustained demand for upscale properties and a growing economy. The city now ranks 8th globally, up from 37th position a year ago, with a 10% year-on-year increase in luxury residential prices.

In new India, offices buzz in new spots

According to real estate consultancy JLL, the emergence of new business hotspots will contribute about 89 Mn. sq ft to the Grade-A office supply in the top seven cities over the next five years.

AURUM SPOTLIGHT

Nestaway CEO discusses PropTech's impact on the Indian rental landscape

In an exclusive interview series with ET Edge Insights, Jitendra Jagadev, the founder and CEO of Nestaway. discusses the evolution of PropTech or property technology in the Indian rental market.

Nestaway: Pioneering a New Era in Housing Solutions

The Nestaway platform envisions creating a seamless and convenient experience for both tenants and homeowners. It has been blending technology and innovation to redefine the rental housing market, and it further spires to keep doing so in the future.