HDFC Capital commits to invest in 15 proptech start-ups
November 17, 2022
It was launched under HDFC Capital HDFC Affordable Real Estate and Technology (H@ART) platform to identify, recognize and reward innovation in the FinTech, SalesTech, Construction Tech and Sustainability Tech sectors.
The platform has committed over 15 investments in Indian prop-tech startups, including at least 3 start-ups coming out of the HDFC Tech Innovators Challenge, and has already invested in companies such as Loyly, Homeexchange and Monsoon Credit Has done.
HDFC Capital raised up 500 crore as the first close of its Property Technology Fund through global investors to invest in start-ups driving innovation and efficiency within the affordable housing ecosystem.
“We have observed that the degree of absorption and adoption of technology in the real estate sector has so far been slow compared to other infrastructure sectors. I am delighted that HDFC Capital, through its innovative housing and real estate technology platform, has organized the HDFC Real Estate Tech Innovator Challenge 2022 in partnership with Invest India,” said Union Minister Hardeep Singh Puri.
“Platforms like these are essential for the real estate industry which is the second largest employer in India and is expected to contribute 13% of GDP in 2030. I am sure these efforts to drive technology adoption in Indian real estate Let us encourage more start-ups to target India’s housing eco-system and create more disruptive innovations to further strengthen it,” he added.