Brigade REAP, a proptech focused real estate accelerator programme, has got on board five 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.
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, the company said. With Cohort 12, the total number of companies that have benefitted from Brigade REAP’s programme 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 and maintenance company, and Repp Tech, a sales management platform.
As part of its efforts to support and grow the PropTech start-up community, Brigade REAP has committed to invest in a minimum of five start-ups a year, both from within the REAP accelerator portfolio and outside. Early-stage PropTech start-up companies looking to raise between Rs 50 lakh and Rs 4 crore can apply through the REAP website for funding.
The platform has invested Rs 80 lakh in Strawcture Eco, which harnesses the potential of agricultural residue to build structures which are durable, affordable, and sustainable. It also invested another Rs 80 lakh in Snaptrude, a cloud-based collaborative building design powered by automation and Intelligent BIM.
“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 $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,” said Nirupa Shankar, joint MD, Brigade Enterprises and director, Brigade REAP.
“Despite having demonstrated business potential, several proptech 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.
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