To support the prop-tech start-up community, Brigade Real Estate Accelerator Program (Reap) has onboarded five new startups from 150 applications for its 12th Cohort.
The startups that were chosen include BlueprintCo, a company that focuses 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.
With Cohort-12, the total number of companies that have benefitted from Brigade REAP’s program has gone up to 60.
Brigade REAP through its syndicate fund PropTech@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 prop-tech startups looking to raise Rs 50 lakh to Rs 4 crore and have 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 that 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 prop-tech sector in India is undergoing a transformation, with the rise of several disruptive deep tech startups in the sector. 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 managing director, Brigade Enterprises and director, Brigade REAP.
“Despite having demonstrated business potential several prop-tech startups 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 startups,” she added.