* Brigade REAP to Boost Investment in PropTech Start-ups
* Onboards 5 new start-ups for is 12th Cohort
Brigade REAP, India’s first PropTech focused real estate accelerator program onboarded 5 new start-ups from 150 applications for its 12th Cohort. The domains covered include Sales Tech, Smart Facilities Management, Project Management, Smart Toilets and Construction Machinery for Road Repair. As part of its efforts to support and grow the PropTech start-up community, Brigade REAP through its syndicate fund: PropTech@REAP has committed to invest in a minimum of 5 start-ups a year both from within the REAP accelerator portfolio and outside. Early stage PropTech start-ups looking to raise Rs 50 lakhs to Rs 4 Crores and having demonstrated product market fit and traction, can apply through the REAP website for funding.
The platform invested Rs 80 Lakh in Strawcture Eco which harnesses the potential of agricultural residue to build structures which are durable, affordable, and sustainable and added to its initial funding led by Brigade Innovations in Snaptrude a cloud-based collaborative building design powered by automation and Intelligent BIM with an investment of Rs 80 lakh.
“The PropTech sector in India is undergoing a transformation, with the rise of several disruptive deep tech start-ups in the sector. These start-ups have applied technology to a brick-and-mortar industry to make it sustainable, commercially viable, attractive, and ecologically friendly. The Indian real estate sector is one of the largest employers in the country and key drivers of the nation’s economy. The sector is pegged to reach $US 1 trillion by 2030 and an influx of technology involving artificial intelligence and machine learning, robotics, imaging technologies and analytics can further augment the growth and viability of the sector.” Nirupa Shankar, Joint Managing Director, Brigade Enterprises Ltd and Director, Brigade REAP
“Despite having demonstrated business potential several Prop Tech start-ups find it challenging to raise funds at an early stage due to the nascency of the sector. Our start-ups have taken anywhere between 1-2 years to raise seed money. Our aim is to bridge this gap for promising start-ups.” she added.
Brigade REAP’s 12th Cohort was chosen from 150 applications and reflects the diversity that is emerging in the PropTech sector. The domains covered include Sales Tech, Smart Facilities Management, Project Management, Smart Toilets and Construction Machinery for Road Repair. For the first time since the inception of Brigade REAP, three start-ups from North India were taken on board, making it one of the most diverse cohorts for Brigade REAP. With Cohort 12, the total number of companies that have benefitted from Brigade REAP's program has gone up to 60.
The start-ups that were chosen are BlueprintCo, a company that focusses on project management solutions for the construction industry, FacTech a tech enabled facility management company, Frisson a smart toilet solutions company, Pykke a pavement construction & maintenance company, and Repp Tech, a Sales Management Platform.
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