NAREDCO Maharastra To Set Up Fund To Back Realtech Startups


The developers of NAREDCO Maharashtra, a realty developers’ body, are planning to establish a fund called RealTech Fund (RTF).

This fund aims to support startups and promote innovation in the real estate industry in India. Initially, a sum of Rs 50 crore will be dedicated to the fund, with the potential for further contributions based on its reception.

The announcement of the fund will be made at an industry conference on September 15. This initiative is seen as a way to address current and future challenges in the sector by providing equal opportunities for growth to proptech startups.

Proptech, which utilises technology to improve transparency and access to data in real estate transactions, has experienced significant growth in India in recent years, particularly due to the digital acceleration caused by the pandemic.

The interest of institutional investors in Indian real estate has also contributed to the rise of proptech, as they seek greater transparency. The fund will help finance and invest in startups that are helping address the traditional challenges faced by the industry. Technologies such as artificial intelligence (AI), the internet of things (IoT), and virtual reality are being increasingly utilised in the real estate sector.

Categories: Uncategorized

Tags: , ,

Leave a ReplyCancel reply