Tenant Experience and asset management platform for commercial real estate Aeria has raised $1.8 million in pre-seed funding led by Kalaari Capital and Foundamental along with AC Ventures, AL Trust and others.

Founded by former co-founder of OxfordCaps, Priyanka Gera accompanied by IIM alum Piyush Kateja, Aeria will use the capital to expand its presence across Southeast Asia, Middle East and other Asian countries over the next year.

The company uses technology and AI to transform the office buildings from a commodity to an experience.

With the heightened technology adoption with real estate players and increased GenZ participation in workforce, the workplace has evolved from a commodity to a service and now to an experience. Aeria is the first platform in Asia leading this digital transformative era for commercial real estate.

“Commercial real estate in APAC is estimated at 52 bn sft, expanding at CAGR of 15 per cent. However, most owners currently rely on traditional methods to manage facilities and tenants. We aim to use technology to transform this experience and bring in efficiency to the owner’s operations,” said Priyanka Gera, Founder and CEO at Aeria.

Aeria offers comprehensive solutions well-integrated with multiple technologies to create engaging digital experience in one app to manage operations by digitising and automating manual tasks. It includes access and parking management systems, delivery-to-desk services, fully integrated and seamless visitor management solution, end-to-end well automated complaint resolution, last-mile commute addition, F&B integration, move-in services, and community management, among others.

Developers and asset managers can look-into Aeria’s detailed analytics suite to improve financial performance up to 15 per cent, as they make data-driven decisions. Their dashboards present insights on various asset risks, demand forecasting, space management, rental optimisation and tenant segmentation.

“The real estate post-COVID world must evolve, especially the lack of predictability in demand and supply since 2020 in the commercial real estate sector. In an environment of digital disruption and technology, focussing on improving tenant and visitor experiences is not an option. It is mission-critical. We believe that commercial real-estate is going to get a massive digital upgrade. We are proud to be backing Priyanka for the second time and believe in her ability to redefine how people engage with offices and shopping malls on a daily basis.” said Sampath P, Partner at Kalaari Capital.

Real estate is one of the largest industries in India contributing to about 7.3 per cent of our GDP. However, the sector has traditionally been laggard in adoption and use of technology.

According to data from Crunchbase, funding to venture-backed proptech companies has surpassed pre-pandemic levels. VC-backed real estate companies have raised $13.4 billion in 2023, up from the $4.1billion that was raised during the same period last year and higher than any year in that period in the past decade.