The fund will support the Centre’s ‘Make in India’ and ‘Techade’ initiatives. It aims to help proptech players bring in more innovation in the realty sector. It further aims to digitize the $300-Bn Indian real estate sector, a joint statement said.
The Confederation of Real Estate Developers’ Associations of India (CREDAI) and startup incubator Venture Catalysts have partnered to set up a $100 Mn proptech fund. The fund will invest in early-stage and growth-stage startups working in diverse sub-sectors of the real estate industry including residential, commercial, institutional, and industrial, among others.
The fund will support the Centre’s ‘Make in India’ and ‘Techade’ initiatives. It aims to help proptech players bring in more innovation in the realty sector. It further aims to digitize the $300-Bn Indian real estate sector, a joint statement said.
“Real estate was one of the few sectors that witnessed the adoption of technology even before the pandemic hit. However, post-COVID, there is a need for a dedicated fund that would help propel growth in the sector,” said Anuj Golecha, cofounder of Venture Catalysts.
Under the fund, CREDAI will provide startups access to its wide network base of over 13K members that are working as developers, vendors, channel partners, and promoters in the realty sector. In addition, it will offer mentorship and help digitize the selected startups.
