PropTech Radar June 2023,
Your Fortnightly Insight into the world of PropTech
FUNDING HIGHLIGHTS
HDFC Capital-backed PropTech firm Reloy has raised Rs 7.2 crore in a
pre-series A2 funding round
The current round saw participation from all the existing investors and have incoming investors of BlueLotus VC, Dream Green Capital and several prominent angels. Reloy had raised Rs 5.9 crore in February, taking the total external funding to over Rs 13 crore
Chennai-based co-living and holiday homes startup Truliv raises $1.5 mn
Co-living and holiday homes startup Truliv has secured $1.5 million in a pre-seed funding round led by Conquest Global Ventures VCC, Vara Future LLP, and others at a post-money valuation of Rs 60 crore.
Cribe Funding: Prop-tech startup Cribe raises Rs 15 crore in funding led by WeFounderCricle
The company plans to use the funds to expand its product offerings, and scale distribution to all major pincodes in India.
Flex space startup IndiQube plans to raise $75 million
"We have turned profitable at the company level and are looking to raise equity over the next 12 months. We are finding that there is a lot of interest in the flexible office operator space from public sector banks and private equity funds," cofounder Rishi Das said.
MARKET MOVERS
Anarock's AI-powered PropTech tool Astra gets a patent
Anarock, a residential real estate services group, has announced that its proprietary sales acceleration tool, Astra, has officially received patent status. This means that Anarock now has exclusive rights to Astra and its powerful algorithms and functions.
PropTech Startup Asette Draws Global Property Investors to UAE’s $35 Bn
Off-Plan Property Market
Asette launches an AI-driven property investment platform, revolutionizing off-plan property research and acquisition in the $35 billion UAE market. With a promise to save investors a 3-months decision-making process and over 40 hours of research, Asette simplifies the complex 30-step procedure using a single tool.
Spacenet Enterprises India Ltd, a well-established company listed on the National Stock Exchange, through its subsidiary, Thalassa Enterprises Pvt Ltd is launching Stratayield.com. This groundbreaking PropTech platform is set to transform the distressed assets and urban storage realty space by bridging the gap between distress value and real market value. India's distressed market
INDUSTRY INSIGHT
Dubai’s booming real estate market ‘ripe for PropTech disruption’
PropTech startups have raised more than $100 million in funding in the UAE over the past five years, according to Zoom Property Insights.
Realtor Shriram Properties to invest ₹750 crore in
ongoing projects in FY24
Shriram Properties chairman and managing director M Murali highlighted that the company achieved a 25% growth in sales bookings to touch an all time high of ₹1,846 crore last fiscal, on higher volumes and better price realisation
Time to clean up the startup ecosystem. And, put a
governance charter in place
There is an urgent need for a governance charter in the startup ecosystem, addressing transparency, accountability, and ethical practices to ensure long-term growth and sustainability
AIF inflows to cross $500 billion by 2030: Report
According to CapHive, India-focused AIFs' assets under management is expected to grow 18-25% every year till 2030, supported by increasing allocation from global institutions as well as stronger domestic flows.
India’s office supply likely to touch 1 billion sq. ft by 2030: Report
India's prime office space supply is expected to reach 1 billion sq. ft in tier I cities, up from the current 700 million sq. ft, by 2030 due to low-cost advantages, competitive wages, and a strong talent pool. Office developers have been commended for being innovative and ESG-conscious to ensure buildings match global standards
