Gruhas Proptech, a property technology firm, has called for applications for a six-month accelerator programme for early-stage proptech start-ups.

Promoted by Anthill Ventures and DLF Family Office, the Gruhas ASPIRE: Accelerating Sustainable Proptech in Real Estate programme comes closely on the heels of the announcement of the Gruhas Proptech $100-million fund made last year. This fund is slated to go live in the first quarter of the financial year 2022-23.

Gruhas Proptech is a venture by the people behind Puzzolana and Zerodha.

Huge potential

Anthill Ventures said that the Proptech space is at an inflection point in the country despite the slowdowns caused by the pandemic. “Investments in this sector reached a record $551 million in 2020. While historically the sector has been fragmented and employed traditional business practices, it is undergoing a revitalisation with an influx of technologies like blockchain, augmented reality/virtual reality, Internet of things, artificial intelligence and robotics,” it said .

The accelerator programme will invest in and scale companies in the sub-sectors, such as construction management; property and asset management; new materials and technologies; and investments and financing.

The Gruhas ASPIRE programme will make “strategic investments” in each of the start-ups selected for the programme, enable market access and provide support in areas like marketing, sales, product and team building.

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“The programme will ensure that cohort start-ups secure PoCs (proof of concepts) through a strong corporate network and raise capital via Anthill’s investor network. They will also get a chance to pitch to investors at the demo day,” a Gruhas Proptech statement said.

“The Proptech sector is flooded with innovative technologies and investments, but it is important to supplement its growth with sustainability-focused initiatives,” Sailesh Sigatapu, Partner at Anthill Ventures, said.

The deadline for submitting applications ends on May 30. The programme will commence in June 2022.