The Confederation of Real Estate Developers’ Associations of India (CREDAI) and startup incubator Venture Catalysts have partnered to set up a $100 million fund to invest in proptech startups. The fund will invest in early to growth stage proptech startups leveraging data analytics, block chain, artificial intelligence and augmented reality. Proptech startups working in segments such as residential, commercial, institutional (hotels, schools, hospitals) and industrial (warehouses and factories) will be backed by the vehicle.
CREDAI will provide startups with access to its network base of 13k+ members from different segments within real estate such as developers, vendors, channel partners, and promoters amongst others. The industry body will also offer mentorship support to portfolio startups. “The real estate was one of the few sectors that witnessed the adoption of technology even before the pandemic hit. However, post-Covid era, this adoption has further increased to boost sales and experience, and hence there is a need for a dedicated fund that would help propel growth in the sector,” said Anuj Golecha, co-founder, Venture Catalysts. The fund will support the ‘Make in India’ and ‘Techade’ initiatives of the Indian government to work towards the digitalisation of the country’s real estate sector which is estimated at around $300 billion.
