Gruhas Proptech, focused on real estate investments and prop tech which is promoted by entrepreneur Pai and Zerodha’s co-founder Nikhil Kamath plans to launch a $150 million proptech focused fund in the early quarter of next financial year aimed to invest in incubators, startups and special situations.
Bangalore based incubator provides well-equipped workspaces, mentorship, and funding ($100K-$1M) to innovative startups in the Proptech space in exchange for minority stakes. The company is also involved in tech powered special situations asset acquisition that can help address the large debt related problems that both the real estate and financial organisations face. Our focus is in the directions of effective utilization, democratization, restoration and fixed income yield plays for one and all.
According to reports, the company is currently in discussion with the large global investors for the launch of the proptech focussed fund, its promoter Abhijeet Pai. Gruhas which has operations in India is also exploring initiatives in the Middle-Eastern and African countries to democratise the proptech asset class to optimise the offerings in the realty sector using technology in a manner that decarbonizes the sector, Pai said.
This is not only aligned to global sustainability goals but also revives the fixed income market, Pai added. “Because of the immense success of the current portfolio, and razor sharp focus on disruptive prop focus Gruhas has strategic interest from large global firms for launching a proptech fund of $150 million in the first quarter of 2022,” Pai said.
Among the companies invested by Gruhas are Strata, Basic, WeGot and GruhasLumos.
Gruhas is also accepting applications for the incubator while exploring investment opportunities in developing markets and some developed markets.
Gruhas Proptech bullish about Proptech Market
“Real estate is at an inflection point where the confluence of technology, sustainability goals will make real estate more accessible. Proptech startups have been catalyzed during the pandemic, with the advent from remote working but the gap between haves and have-nots remains stark. The way real estate is structured, impacts us all,” Kamath said.
“Whether it is buying, selling, renting or investing in real estate there is an opportunity to democratise, decarbonise and usher in global practices and technology. Application of technology and digitalization has come late in the real estate industry but has become a necessity,” he added.
Despite the resistance by the different stakeholders in the real estate market, India accounts for the largest proportion of proptech investments outside the US along with Europe and the UK, yet there are few affordable investment alternatives.
Gruhas has so far invested in eight startups across fractional ownership, green materials, debt, new age tech, low-cost housing, mapping rural communities, drone technology, water management and other proptech initiatives.
“Real estate is at an inflection point where the confluence of technology, sustainability goals will make real estate more accessible. Proptech startups have been catalyzed during the pandemic, with the advent from remote working but the gap between haves and have-nots remains stark. The way real estate is structured, impacts us all,” Kamath said.
Gruhas was founded with this intention to disrupt the status-quo in real estate. Gruhas, are also investing into a sustainable living with a keen focus on impact and ESG (environment, social and governance) focused disruptors in the world’s second largest industry type with an urgent need to revamp for the future consumer.
