HDFC Capital Advisors has identified 15 Indian start-ups to support them financially through its property technology fund HDFC Affordable Real Estate and Technology Program (H@ART).
In September, it raised over Rs 500 crore as the first close of its property technology fund through global investors to support start-ups that drive innovation and efficiencies within the affordable housing ecosystem. HDFC Capital has selected these 15 start-ups through the HDFC Tech innovators program in partnership with the government of India, other leading global and Indian funds, academia, and industry associations to identify the most innovative proptech companies.
HDFC Real Estate Tech Innovators 2022 challenge that was conducted in partnership with Startup India, received an overwhelming response with over 537 start-ups categorized under project management & construction tech., sales & fintech. and sustainability tech.
“The next sector ADIA sees Proptech disrupting is residential real estate. We need to embrace Proptech in order to reduce costs, improve productivity and increase sales. We believe Proptech will expedite ADIA and HDFC’s aim to finance the development of 1 million homes in India,” said Mohamed AlQubaisi - Executive Director Real Estate, ADIA.
This will be an ongoing initiative in the quest to identify and partner with innovative technology companies in the affordable housing segment. The HDFC Group entity has already made a few investments including HomeExchange, Loyalie, and Monsoon Credit.
“H@ART provides a seamless platform for all stakeholders including global investors, developers, start-ups and vendors to access latest technology and financing innovations to develop sustainable and smart affordable homes in India,” said Vipul Roongta, MD & CEO, HDFC Capital Advisors.
