The real estate market in India is expected to grow at a compounded annual growth rate (CAGR) of 15% and reach a size of $ 1 trillion by 2030.
Technology has been one of the key factors channeling this growth. In 2023, proptech companies in India transforming real-estate markets with technologies like data analytics and Artificial Intelligence (AI) attracted funds of over $ 4 billion.
In this article, we are going to explore the top proptech companies in India driving transformation in the real estate sector through innovative technologies
Summary:
– With a CAGR of 15%, the real estate market in India is expected to reach a size of $ 1 trillion by 2030.
– In 2023, Indian PropTech players attracted funds of over $ 4 billion.
– India’s leading PropTech players are using data analytics and AI to drive innovations in market research, online marketplaces, property management, shared rentals, supply chain management, and other areas of real estate.
– This exclusive list by PropTechBuzz Media features NoBroker, Furlenco, MagicBricks, Nestaway, Square Yards, Zolo Stays, Prop Tiger, Clicbrics, Housing.com and Infra.Market.
Founders: Amit Kumar Agarwal, Saurabh Garg and Akhil Gupta
Founding Year: 2014
Headquarters: Bengaluru, India
Valuation: Total funds of $ 426 million (Between 2015 and 2021)
Revenue: $ 40 million (In 2022)
Investors: Tiger Global Management, Moore Strategic and General Atlantic
India’s first PropTech unicorn, NoBroker is a real-estate platform with verified properties listed directly by owners. Property owners can connect directly with buyers or tenants and buy, sell, or rent property with zero brokerage.
NoBroker offers subscription-based property listings, legal and home loan assistance, payment services, and property management services.
The platform uses AI and ML technologies to analyze a large property database and make personalized recommendations.
NoBroker has recently launched a conversational artificial intelligence (AI) platform CallZen.AI which is considered a breakthrough in real-estate CRM.
Founder: Ajith Mohan Karimpana
Founding Year: 2011
Headquarters: Bengaluru, India
Valuation: Total funds of $ 228.6 million (2019 to 2022)
Revenue: $ 15.5 million (2022)
Investors: Zinnia Global Fund, CE-Ventures and Lightbox Ventures
India’s first furniture rental platform, Furlenco allows customers to flexibly furbish their living spaces at a fraction of the cost.
Realizing that more and more people in cities are opting for a mobile lifestyle, Furlenco helps users personalize their homes without the burden of owning heavy furniture.
The platform determines user preferences through data analysis and works on a subscription model. The company has also diversified into smart appliances and systems.
Founder: Sudhir Pai
Founding year: 2006
Headquarters: Noida, India
Valuation: Total funds of $ 3.5 million
Revenue: $ 12 million – $ 60 million
Investors: Times Internet
Magicbricks is the first proptech company in India to achieve Superbrand status. The portal is not only popular for its property listing and search options but is trusted by millions of Indians for its advice and guidance on all property-related matters.
The platform uses data analytics and AI to perform intelligent searches based on several parameters for personalized recommendations.
Various other features like Propworth (AI-driven property valuation calculator), real-time chat, home loans and EMI calculator, legal advisor, etc. make Magicbricks a leading PropTech innovator in India.
Founders: Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida
Founding Year: 2015
Headquarters: Bengaluru, India
Valuation: Total funds of $ 109.1 million (2015 to 2019)
Revenue: $ 3 million (2022)
Investors: Goldman Sachs, Tiger Global Management, and Epiq Capital
India’s leading shared rental management portal, Nestaway seeks to redefine the existing rental housing market in India by connecting property owners and tenants on its online platform.
With Nestaway, tenants get the most reasonable offers for well-managed properties, while property owners are assured of timely payments.
Nestaway was acquired by Aurum Ventures in 2023, also a parent company of Aurum Proptech. The platform continues to be a favorite among students and young professionals who want to simplify the process of renting a new property.
Founders: Tanuj Shori, Kanika Gupta Shori
Founding year: 2014
Headquarters: Gurugram, India
Valuation: Total funds of $ 97.8 million (2015 to 2021)
Revenue: $ 80 million (2023)
Investors: Reliance Group Holdings, Lohia Group, and Bennett Coleman and Co Ltd.
Square Yards is one of the top proptech companies in India offers clients a guided journey through the world of real estate investments.
The platform provides comprehensive services across all domains of real estate. Square Yards’ data-driven market insights are helping real estate investors build a robust property portfolio over time.
Square Yards along with adjacent B2C platforms like Azuro, Interior Company, and Square Capital have a formidable global presence. Its recent acquisition of PropVR, an AI-based 3D visualization platform has further boosted Square Yards’ technological capacities.
Founders: Dr. Nikhil Sikri, Akhil Sikri and Sneha Choudhry
Founding year: 2015
Headquarters: Bengaluru, India
Valuation: Total funds of $ 98 million (2017 – 2020)
Revenue: $ 36 million (2023)
Investors: Investcorp, Trifecta Capital Advisors, and Nexus Venture Partners
With a slick UI/UX, dynamic property search, and convenient payment systems, the rental and co-living app is used by millions of students and working professionals in top cities of India.
The properties managed by Zolo Stays are smartly managed through the use of technology. However, what makes Zolo Stays unique is the feeling of community that it inspires among its users.
Connected through dedicated social networks, Zolo residents have access to the best of interactions, events, rewards, and offers making every moment in Zolo Stays memorable.
Founder: Dhruv Agarwala
Founding Year: 2011
Headquarters: Gurugram, India
Valuation: Total funds of $ 99 million
Revenue: $ 33 million (as of Mar 31, 2022)
Investors: REA Group, News Corp, and SoftBank
Prop Tiger is a real estate advisory platform that has simplified the process of acquiring residential property.
The platform uses advanced analytics to process lakhs of verified listings from reputed developers to help users shortlist their dream homes.
Prop Tiger provides dedicated support at each stage of real estate transactions and enables buyers to access loans and complete legal formalities with ease.
Founders: Rohit Malik and Subhash Bedi
Founding year: 2017
Headquarters: Gurugram, India
Valuation: $ 3 million
Revenue: NA
Investors: Manny Singh and Peter Mann
What distinguishes Clicbrics from other digital real estate platforms is its emphasis on analytics.
The online property marketing platform empowers users by generating invaluable insights through the use of data and AI.
Buyers, sellers, brokers, and developers can conduct property valuation through its data-driven tool Clicworth, monitor price trends in specific localities, view transaction histories of properties, and even conduct financial transactions through the platform.
Founder: Rahul Yadav
Founding year: 2012
Headquarters: Gurugram, India
Valuation: Total funds of $ 157 million
Revenue: $ 48 million (as of Mar 31, 2023)
Investors: SoftBank Capital, Nexus Venture Partners and Helion Venture Partners
Recognized as an Indian unicorn, Housing.com has attracted the attention of investors and users alike. The portal seeks to revolutionize the Indian real estate market by comprehensively addressing the needs of property buyers, sellers, brokers, and developers.
The portal covers a vast array of ownership, rental, finance, and property management services backed by robust technology.
The company also provides extensive sales and marketing support to developers and brokers using advanced analytics, virtual tours, AR / VR and relationship management tools.
Founder: Ashish Deora
Founding year: 1996
Headquarters: Navi Mumbai, India
Valuation: $ 130 million (market capitalization)
Revenue: $ 15 million (2022 – 23)
Aurum PropTech is leading the tech transformation of the real estate sector in India. The enterprise is envisioned as a one-stop integrated PropTech solution provider with a suite of products, services, and platforms to meet every business need, be it B2C, B2B, B2B2C, or D2C Real Estate Value Chains.
Known for building efficient and responsive tech solutions and accelerating business growth through data-driven business intelligence, Aurum PropTech is one of the most striking PropTech ventures in India.
In conclusion, India’s real estate market is dynamic. It has a projected CAGR of 15% and an expected size of $1 trillion by 2030. It is undergoing remarkable change due to technology. Proptech companies are leading this change.
They use data analytics and AI to revolutionize many parts of the sector. In 2023 alone, these companies got over $4 billion in funding. This highlights their critical role in driving growth and innovation.
The best proptech companies in India are making property transactions and management simpler. Examples include NoBroker, Furlenco, MagicBricks, and Nestaway.
They are also improving user experiences with advanced technologies. These companies are setting new benchmarks in market research and online marketplaces.
They also work in property management, shared rentals, and supply chain management. They are shaping the future of the Indian real estate industry.
Looking ahead, the real estate technology industry will continue to evolve and companies will keep adopting it.
It will play a key role in sustaining the strong growth of India’s real estate market. They foster innovation and efficiency. They meet today’s demands and pave the way for a smarter real estate system in India.
By Proptechbuzz
By Ravi Kumar
