Proptech is not a new term but it sure is a newer concept when it comes to mass acceptance in India. Simply breaking down the word proptech gives you a good idea of what a firm that falls under this category does.
Proptech, property + technology, is a sector where organizations use technology to further the real estate industry. These companies could either be marketplaces or other property assistance services.
We have gone through a number of startups to identify the top 5 game-changing proptech startups in India today. The following is the list of the top 5 proptech startups in India and the reason why we believe they need to be on this list.
Clicbrics
Founded in 2017, Clicbrics is India’s first online marketplace that uses AI and Machine Learning algorithms to provide price trends and real transactional pricing to every stakeholder in the real estate market.
To facilitate transparency in Indian Real Estate, Clicbrics’ Property Valuation tool Clicworth allows users to get an estimated market price for any property. With information as simple as the address, property type, and floor, Clicworth provides you with an estimated home valuation with 90% accuracy.
The founders, Rohit Malik and Subhash Bedi have invested close to $1 billion in Indian Real Estate and sold almost 16000 homes. Scott Forbes, a member of the Board of Directors, and former Chairman of Rightmove, UK, has successfully built Rightmove to a $9 billion market cap.
Clicbrics' last valuation from Pre Series A was USD 40 Million. Some of the investors at Clicbrics are Peter Mann (CEO Grayhawk Investments), Manny Singh (Founder Kavi Fund), Jonathan Hausman (MD Ontario Teachers Pension Fund), Neeraj Hora (CEO Nomura Ventures and SRI), and Stephen Barrett (MD JP Morgan).
Furlenco
Founded by Ajith Karimpana in 2012 and legally recognized as Kieraya Furnishing Solutions Pvt. Ltd., Furlenco is a Bangalore based startup. The organization provides affordable, aesthetic, well-designed, and quality furniture on monthly rent. In fancier words, Furlenco can be referred to as a furniture concierge service.
The company also provides users with the option of swapping furniture as and when required.
Furlenco has undergone 20 rounds of funding, raising $228.6M. Their last round of funding was debt financing in Feb 2022. Lightbox and Eagle Holdings were the main investors in this round. Some of their current lead investors include BlackSoil, Zinnia Global Fund, and Trade Cred.
Livspace
Livspace, founded by Anuj Srivastava, Ramakant Sharma, and Shagufta Anurag in 2014 is an e-commerce service that connects interior designers, services, and products to people. The company is currently providing services in both Singapore and India.
Livspace also launched its proprietary design-to-installation service Canvas. This platform helps interior designers scale jobs and provides homeowners with a peerless experience while decorating their dream homes.
Livspace has been through 10 rounds of funding and raised over $431.6M in total. The current leading investors for Livspace are Goldman Sachs, Jungle Ventures, TPG Growth, Helion Venture Partners, Bessemer Ventures, and Trifecta Capital Advisors.
Stanza Living
In 2017, Anindya Dutta and Sandeep Dalmia founded Stanza Living to facilitate the migration of students and working professionals to larger cities. According to its website, the startup has spread its presence across 22+ cities in India including Delhi, Gurgaon, Hyderabad, Pune, etc.
Stanza Living is creating easy shared-living options for individuals. They are a tech-enabled firm that acquired long-term leases with homeowners and then converted and managed these spaces as co-living accommodation.
Stanza Living has been through 7 funding rounds so far and raised $227.9M in total. Some of the lead investors in Stanza Living are RBL Bank, Kotak Mahindra Bank, Alpha Wave Incubation, and Alteria Capital.
Infra.Market
Founded by Aaditya Sharda and Souvik Sengupta in 2016 Infra.Market, also known as Hella Infra Market, is a Thane based proptech startup that facilitates construction in the real estate sector. It is an online marketplace that provides real estate developers and construction professionals with raw materials for construction.
Infra.Market has created a supply chain that they use to serve their clientele. They match their customers with the right section of their supply chain. They also provide affordable and reasonable credit options and fair pricing to make their purchase. They also provide delivery tracing facilities to their customers.
The startup has been through 11 rounds of funding and successfully raised $356.6M. Their most recent investors were Navi Technologies, and Pankaj Chaddah.
These Indian proptech companies have been changing the face of Indian real estate for quite some time now. However, they have truly been embraced by the Indian consumer segment in the past two to three years. The pandemic and its restrictions have acted as a catalyst for the public to take on a more digitized lifestyle. This has led to the boom in the proptech startup segment. While many startups are doing some amazing work, the five mentioned above seem to have an edge over the competition.
Which of these proptech startups would you be reaching out to for your next home-related need?
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