HDFC Capital commits to invest in 15 proptech startups

It was launched under HDFC Capital’s HDFC Affordable Real Estate and Technology (H@ART) platform, to identify, recognise and award innovations in fintech, salestech, construction tech and sustainability tech sectors.

The platform has committed to more than 15 investments in Indian prop-tech startups, including at least 3 start-ups coming out of the HDFC Tech Innovators challenge, and has already done investments in companies like Loyalie, HomeExchange and Monsoon Credit.

HDFC Capital has raised over ₹500 crore as the first close of its property technology fund through global investors for investments into start-ups that drive innovation and efficiencies within the affordable housing ecosystem.

“We have observed that the degree of absorption and adoption of technology in the real estate sector has so far been slower than in other infrastructure segments. I am glad that HDFC Capital through its innovative Housing and Real Estate Technology Platform has organized the HDFC Real Estate Tech Innovator’s Challenge 2022 in partnership with Invest India,” said Union Minister Hardeep Singh Puri.

“Such platforms are essential for the Real Estate industry which is the 2nd largest employer in India and is expected to contribute 13% of GDP in 2030. I am certain that these efforts to enhance adoption of technology in Indian real estate with encourage more start-ups to build more disruptive innovations targeting and further strengthening the India housing eco-system,” he added.

“We at HDFC, firmly believe that technology will play a significant role in the development of a sustainable, efficient real estate ecosystem and in meeting India’s ‘Housing for All’ goal. H@ART is a unique initiative for real time interaction between demand (industry), supply (start-ups) and financiers to accelerate adoption of technology in the built world,” said Deepak Parekh, Chairman, HDFC Ltd.