CREDAI, Venture Catalysts join hands to form $100mn Proptech Fund

the Confederation of Real Estate Developers Associations of India (CREDAI) and risk catalystsIndia’s first and largest integrated startup incubator and accelerator, have partnered to establish a $100 million PropTech fund to invest in startups that bring innovative disruption to real estate.

This fund will invest in early-stage or growth-stage startups that have the potential to transform the real estate industry through technology, data analytics, blockchain, AI, and augmented reality. The fund would focus on startups serving all major real estate segments, including residential, commercial, institutional (hotels, schools, hospitals), and industrial (warehouses, factories, etc.).

This platform, which was launched in the 75th year of India’s Independence, will support the ‘Made in India’ and the government’s ‘Techade’ initiative that works for the digitalization of the real estate sector estimated at USD 300 billion in the country. Further innovations and technological advancements are expected to drive the sector to become a $1 trillion economy by 2030. The partnership comes amid a transformative era in the real estate industry that is undergoing design-driven digital and technological evolution. innovative, logistical and artificial advances. intelligence-based technology.

“The real estate industry has been gradually stepping up to innovate for years and this will further affect the industry. With the rapid development in the Prop Tech domain, using AR/VR or AI to help homebuyers speed up the deal closing process will help provide developers with better liquidity as the processes gradually become more affordable. more efficient, resulting in better asset returns, lower friction. and greater transparency. The large corpus will help fulfill the PM’s vision of ‘Make in India’ and help strengthen the promise of the startup community as India continues to emerge as one of the startup hubs globally,” he explained. Hard Vardhan Pathodiapresident of CREDAI at the opening of the talent hunt for real estate startups.

CREDAI will provide startups with access to its network base of more than 13,000 members from 256 different industrial fields in real estate, such as developers, suppliers, channel partners, and promoters, among others. You will support new portfolio companies with the right mentorship and work to make the real estate sector more digitized.

“We are witnessing a revolution as we marked a 15,400% increase in the number of startups from 471 in 2016 to 72,993 in June 2022. While there has been a notable increase in the number of startups, it is critical to support the growth of these innovators to help fuel the growth of the industry and even the nation. Also, with the advent of 5G, it is important to provide a platform for rising entrepreneurs to revolutionize the industry and introduce innovative methods to overcome the challenges currently facing the industry,” he said. iranian bomanElected President, CREDAI.

Speaking of the need for a proptech fund, Anuj GolechaThe co-founder of Venture Catalysts said: “Real estate was one of the few sectors that saw technology adoption even before the pandemic hit. However, post-Covid this adoption has further increased to drive sales and experience and hence there is a need for a dedicated fund to help drive growth in the sector. We at Venture Catalysts have been early believers and industry backers with startups like OYO and Innov8 and a dozen others working to solve problems, from finding a hotel to helping consumers with instant home loans. Through this fund, we hope to support some very interesting and innovative startups in the coming months. Also, with recent unicorns like Livspace and NoBroker, the proptech segment has received massive sentiment from the VC community.” Venture Catalysts has been actively investing in the real estate industry with a portfolio of over a dozen startups like OYO , Basic, Grexter, Sharenest, Home Capital and Rentomojo, among others.

Anuj further added that proptech in India has so far been limited to residential markets such as MagicBricks, NoBroker, 99Acres,, among others, but the technology is helping to cater to all important aspects of real estate, from finding a residential property to the planning of large industrial spaces.

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