Brigade REAP opens applications for Cohort 8
Bengaluru, NFAPost: Brigade REAP, Asia’s first PropTech accelerator, announced that four startups from their portfolio have raised funding despite and during the ongoing Corona crisis.
These companies impact diverse areas such as sustainability, home improvement and last yard delivery. In the last three years, Brigade REAP has mentored over 30 startups.
40% of their portfolio startups have gone on to raise external capital from top tier investors. The startups have also posted an average increase in revenue of over 160% within one year of graduation.
Speaking about this positive development for the Real Estate ecosystem, Brigade REAP Director Nirupa Shankar said the fundraising of these startup is a well-earned validation by PropTech startups that are addressing some long-standing inefficiencies in traditional Real Estate.
“I see that more Developers are looking at technology to establish and accelerate their growth in both Commercial and Residential Real Estate. While Covid19 has given an added stimulus, I expect the adoption of PropTech companies to only grow manifold,” said Brigade REAP Director Nirupa Shankar.
PropVR, a startup working in the VR technology, Chief Executive officer Sunder Jagannathan added his company’s business has tripled in the number of customers and revenue.
“Our clients have never been so open and eager in adopting digital solutions at such a rate,” said PropVR Chief Executive officer Sunder Jagannathan Sunder Jagannathan.
The Four startups that have raised funding during Covid times
· LiveSafe1 – Electromagnetic Radiation Management for safer homes
· Aapka Painter – Redefining the unorganized painting business using technology
· Renewate – Technology enabled home renovation
· PropVR – Increased customer engagement and lead conversion using AI and VR
Brigade Real Estate Accelerator Program (REAP) is Asia’s first PropTech focused Accelerator Program. Started in October 2016. The startup programme’s main objective of the Accelerator Program is to understand the challenges faced by the Real Estate industry and then identify, nurture and validate solutions by innovative startups.
The programme’s vision is that these startups can catalyze the rapid adoption of technology by the sector, helping deliver significant cost savings, revenue maximization and overall process efficiencies. The technology application focus is IoT, Big Data, Cleantech & Renewables, Nano Technology, Visual Computing, Sustainability, Supply Chain & Logistics.