Brigade REAP, a prop-tech-focused real estate accelerator program, onboarded five start-ups from 150 applications for its 14th cohort. The domains covered include robotics, alternate construction material, retail, plastic waste management and hospitality.
For the first time since its inception, Brigade REAP onboarded a hospitality start-up. Together with start-ups from other sectors, such as retail tech, green construction and robotics, this cohort stands as one of the most diverse for Brigade REAP.
The chosen start-ups are Vividobots, a company that focuses on exterior painting robots for high-rise buildings; Uni-Am, which focuses on reducing carbon footprint in cement production to revolutionize green construction and Spatic, a location intelligence platform for retail expansion. It also includes Paving+, a sustainable solution to plastic waste and Raho, which offers affordable holiday destinations for young families and professionals by upgrading facilities and standardizing services in clusters of properties.
The new cohort represents a diverse range of domains, showcasing the breadth and depth of innovation in the proptech space.
“We are excited to welcome the new start-ups to Brigade REAP's 14th cohort. Their innovative ideas and solutions align perfectly with the evolving needs of the real estate industry. The selected start-ups bring fresh perspectives and disruptive technologies to the table, and we are excited about their potential to drive positive change in the industry. As the real estate sector continues to grow, we are confident that these start-ups will play a vital role in shaping its future,” said Angie Mahtaney, Chief Business Mentor at REAP.
According to a report by the Indian Brand Equity Foundation (IBEF), India’s real estate market size is estimated to reach $ 1 trillion by 2030, with an expected 14 per cent compound annual growth rate (CAGR) between FY17 and FY30. This growth is expected to contribute 13 per cent to the country’s GDP by 2025.
Several proptech start-ups are developing sustainable technologies to make real estate assets commercially viable and environmentally sustainable. This includes developing high-quality materials, greener, cost-effective equipment, and efficient water, waste and power management solutions.
Since 2016, Brigade REAP is helping proptech startups polish their digital offerings and mentor them to raise seed money. Of the 62 start-ups that it has mentored to date, 40 per cent have successfully raised funds from external sources, all of which have received orders from the real estate business ecosystem.