CREDAI sets up $100 million Proptech Fund

Torbit - September 18, 2022 - - 0 |
CREDAI sets up $100 million Proptech Fund

The Confederation of Real Estate Developers Association of India(CREDAI) and Venture Catalysts-India’s largest integrated incubator and accelerator for startups, have partnered to set up a $100 million Proptech Fund to invest in startups , bringing in innovative disruptions in the real estate sector.  

The fund will invest in early to growth stage startups that have the potential to transform the real estate industry through technology, data analytics, blockchain, AI and Augmented Reality. The focus will be on startups catering to all the major segments of real estate including residential, commercial, institutional (hotels, schools, hospitals) and industrial real estate(warehouses, factories etc) 

This proptech initiative will support the digitization of the estimated $300 billion real estate sector in the country to reach $ 1 trillion mark by 2030, fast tracking tech evolution ushered in by innovative design, logistical advancements and artificial intelligence-based technology. 

According to Harsh Vardhan Patodia,President, CREDAI, this large proptech initiative will further help disrupt the real estate industry which is making rapid developments to innovate.The greater use of proptech like AR/VR & AI will help leverage the high potential of startups for enhancing asset value, decreasing friction and increasing transparency tor the benefit of property buyers and developers. 

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