- Proptech Industry Set to Reach $9.7 Billion by 2023
- Gruhas ASPIRE will make Strategic Investments and Enable Scale & Market Access for Cohort Startups
- Cohort 1 of the program raised more than INR 22 Crore through the program and outside investors.
The announcement comes on the heels of successful delivery of the first cohort of the program; out of the seven companies in cohort 1, five have closed a round of funding and the remaining two are in the process of closing a round. Further, three of the early-stage companies have completed their product and commenced go-to-market, and another three have expanded to new geographies and achieved scale.
The program has brought in pilots, forged partnerships with manufacturing and distribution partners, refined business models, and helped with branding and thought leadership. The program partners have funded five of the seven partners directly and by leveraging their investor network. The first cohort will conclude with a demo day in Bengaluru in June.
In the second cohort, selected startups will receive dedicated support in marketing, sales, product, team, and other business challenges. The program will also enable market access via India’s leading developers and property managers. Cohort startups will have the opportunity to secure pilots and POCs through Gruhas Proptech, DLF Family Office, and Anthill Ventures’ strong corporate network, and raise capital via Anthill Angel Funds. There will also be a demo day at the end of the program, where cohort companies will have the opportunity to raise capital and develop relationships with investors, corporates, and government.
According to market research firm MarketsandMarkets, the global proptech market is projected to expand from $4.2 billion in 2018 to $9.7 billion in 2023, indicating a CAGR of 18.0%. Additionally, Mordor Intelligence forecasts that by 2025, the smart building market will reach $109.48 billion, growing at a CAGR of 12.6% between 2020 and 2025. These figures underscore the significant growth potential and market opportunities for proptech startups.
The program’s focus areas include.
- New & Emissions-Free Materials & Technologies in Construction
- Smart Property Management for Selling & Leasing
- Sustainable Properties with Clean Energy, Water Use, & Waste Management
- Investments & Financing in Real Estate
- Early stage i.e., pre-seed or seed start-ups
- Focused on the abovementioned sub-sectors.
Abhijeet Pai, Co-Founder, Gruhas Proptech: "After the overwhelming support and success of the first cohort, we are excited to build on that momentum with our second cohort of proptech startups. We believe that these startups are at the forefront of the evolution with the rising demand for sustainable solutions, government initiatives, increasing investor interest, and technological advancements. We are excited to see new startups that are leveraging technology to solve some of the industry's most significant challenges.”
Rahul Talwar, Director, DLF Family Office: “After achieving a successful and thrilling Cohort 1, I am pleased to strengthen the partnership with Gruhas and Anthill for a second cohort! Through the second edition of Gruhas ASPIRE, we aim to empower startups that tackle climate change and drive sustainability, making a meaningful impact on the environment and the society at large.
Sailesh Sigatapu, Partner, Anthill Ventures: "We at Anthill have been bullish on the urban tech and proptech market for a few years now, with investments in this space already under our belt. Our market-access focused model has shown results, and we are thrilled to continue our partnership with Gruhas Proptech and DLF Family Office to help early stage proptech startups #ScaleWithSpeed.”
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The Gruhas ASPIRE program has proven to be a resounding success, with the first edition showcasing some impressive success metrics. The program started with seven cohort startups, all of which successfully completed the program, achieving a 100% success rate. The program engaged with over 50 corporate partners and supported the companies in raising more than INR 22 Crore in capital, from the program as well as outside investors. The program is a unique initiative that presents a significant opportunity for early-stage sustainable proptech startups to scale their businesses and contribute to the revitalization of the real estate sector. Applications for the program will close on May 31st, 2023, and the selected startups will be announced shortly thereafter.
About Gruhas Proptech Fund:
Gruhas Proptech is a venture by the people behind Puzzolana and Zerodha. Gruhas focuses on Proptech, Metals, and Infrastructure. The acceptance of climate change, high debt, job dependency and suitability need urgent attention. Decarbonizing of the sector that accounts for around 40 percent of carbon dioxide emissions worldwide (UNEP) is critical to achieve the Paris Agreement commitment and the United Nations Sustainable Developments Goals.
About DLF Family Office:
The DLF Family Office is one of the oldest family offices in the country. Established by the promoters of DLF Ltd, India's largest real estate company, the family office invests in equity through investments in public market funds, private market funds and direct investments in unlisted enterprises.
About Anthill Ventures:
Anthill Ventures is a global venture capital fund and speed scaling ecosystem that invests in bold entrepreneurs who are building the companies of tomorrow. With a focus on Healthcare, Mediatech, Urbantech and Consumer Lifestyle, Anthill provides targeted and timely interventions that drive transformational growth for early-stage startups. Our unique approach helps companies #ScaleWithSpeed, allowing them to reach stronger growth trajectories and unlock their full potential.
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