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PropTech Radar - 15th July 2024

FUNDING HIGHLIGHTS

15th July 2024

Infra.Market Bags INR 185 Cr Debt Funding From Yubi, Samunnati, Others

In FY23, Infra.Market's net profits dropped 17% to INR 155.2 Cr, with operating revenue rising sharply by 90% to INR 11,846.5 Cr. Yubi and IKF Home Finance invested INR 80 Cr and INR 40 Cr in a B2B ecommerce startup seeking INR 500 Cr in debt this year.


Jugyah raises $1.5 Mn led by White Venture Capital, QED and others

Mumbai's Jugyah, founded in 2023, raised $1.5M led by White VC, QED Investors, and Godrej Properties. They plan local expansion with a model similar to Loft and Quinto Andar, featuring verified listings, virtual tours, and offline service centers in South and Navi Mumbai.


Oyo raises $50 Mn from InCred at $2.38 Bn valuation

Oyo secured $50M from InCred Wealth, issuing 14,37,41,379 Series G CCPS at Rs 29 each. Post-allotment valuation is approximately $2.38B. Funds will fuel global expansion, acquisitions amid IPO delay and valuation adjustments.


HDFC Capital Acquires Stake in Truboard Technologies to Boost Real Estate Innovation

HDFC Capital acquires 8.5% of Truboard Technologies, enhancing tech, expanding market presence, and boosting infrastructure for TruGenie platform in real estate asset management.

MARKET MOVERS

15th July 2024

Magicbricks Launches PropWorth: Advanced Property Valuation Tool Utilizes Machine Learning For Accurate Assessments

Magicbricks launched PropWorth, using AI and 15 years of data from 30 cities for accurate property valuations with a 98% accuracy rate. It assists buyers and sellers in making informed decisions beyond traditional valuation methods in India's real estate sector.


Ahmedabad based PropTech startup building rental ecosystem around bachelor housing

Citynet helps in finding accommodations like sharing flats, flatmates and pre-occupied flats as well as sharing PGs for working professionals, corporate stay houses, and private flats for bachelors.

INDUSTRY INSIGHT

15th July 2024

Investor confidence drives Indian realty investments to $4.8 billion in H1 2024

Indian real estate attracted $4.8B in institutional investments in H1 2024, up 81% from 2023. With 40 deals, strong investor confidence signals robust economic growth and sector diversity amid global challenges.


Bengaluru landlords start compromising on apartment rents as techies move away from IT corridors

In Q2 2024, Bengaluru's rental market shows a 15-20% YoY decrease in IT suburb rents like Whitefield. Tech professionals are moving to outskirts like Sarjapura for more affordable options, with a 3BHK available for Rs 38,000 compared to Rs 35,000-40,000 for 2BHKs in prime areas.

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