These proptech startups are working to transform the real estate sector

Deloitte's Real Estate Predictions 2020 says that like other traditional industries, “real estate is a market that hasn’t changed very much in decades – maybe even centuries”. 

But things have changed since technology met the real estate industry, especially after the COVID-19 pandemic. 

“Proptech presents that rare chance to disrupt such an industry and is attracting a lot of attention from entrepreneurs, investors, and industry incumbents all at once,” the report says. 

India, too, has seen a proptech boom of sorts. The pandemic accelerated digital transformation and led to the launch of numerous proptech startups that are emerging as game-changers. 

According to IBEF, the Indian real estate sector was valued at $200 billion in 2020 and is expected to reach $1 trillion in market size by 2030. It is also expected to contribute 13 percent to the country’s GDP by 2025.

Here are some proptech startups that are using technology to transform the way the sector operates: 

Zapkey

Founded in 2020 by Shubhankar, Sandeep Reddy, and Raja Seetharaman, Mumbai-based Zapkey is a home sale platform that claims to provide its customers with guaranteed home sales within three months of the listing date, or else they buy the property themselves.

The startup aims to become the one-stop online solution bringing liquidity to the difficult resale home market by providing trust, the best homeselling experience, customers, and transparency in pricing.

"Normal propery brokers do not guarantee home sales. That’s the biggest difference. They do not have the resources to do so, nor do they have the resources to provide a quality platform experience. But they are essential components of the operation and aligned to Zapkey’s mission by bringing them into the fold," Shubhankar adds.

In March 2022, Zapkey raised $2 million in a seed round led by Gruhas proptech with participation from the DLF Family office, the Alkem Labs Family, Blume Founders Funds, Srini Sriniwasan, Aprameya Radhakrishna, and other individual investors.

BivocalBirds

Founded in 2020 by Satish Singh, Vivekanand Singh, and Shashi Bhushan Mall, this Noida-based proptech startup Bivocalbirds aims to provide end-to-end rental solutions and property management to both owners and tenants, using online and offline techniques.

"The idea came to me while I was searching for a flat on rent in Noida with my friends. Being IT professionals, we had a busy schedule and did not have much time to visit flats with brokers, who do not have proper clarity/transparency and professionalism. We visited the same flat with different brokers. It took more than a month to finalise the flat even though it did not match our criteria and requirements. We spent a lot of time, and had mental stress," Satish tells YourStory. 

Currently, the startup offers services in Ghaziabad, Noida, and Greater Noida. It claims to have served more than 200 owners on rent and another 25 owners on property management. The platform also has 500 active customers and 5,000 active properties. 

TheHouseMonk

Founded in 2019 by Ajay Kumar and Balaji Varadharajan, Singapore-based TheHouseMonk’s technology platform helps property managers and landlords monetise, manage, and maintain their rental portfolio.

The startup has more than 100 clients across 15 countries.

In December 2021, Aurum Proptech invested $5 million in the B2B SaaS-based real estate tech startup.

"We found TheHouseMonk a great fit for optimising efficiency in the residential rental business with the compelling proposition being property managers being able to operate the platform," said Ashish Deora, Founder and CEO of Aurum Ventures, the parent company of Aurum PropTech. 

MultiLiving

Founded in 2019 by Pankaj Singh, Mumbai-based property management startup MultiLiving provides end-to-end assistance to property investors and homeowners to manage their real estate and residential property.

It offers curated apartments with tech-assisted hospitality services and home management for a hassle-free living experience. It aims to eliminate inefficiencies in the existing rental system and to streamline home renting for urban professionals.

"The life of an urban professional is extremely hectic, and the stress of finding and managing a home simply adds to the burden. MultiLiving is an advanced way of owning and renting a flat where we take care of everything involved in this space so that individuals can reclaim their time and focus on what truly matters," Pankaj says.

In March 2020, the startup raised $6 million in funding from Lodha Ventures to launch its services in Mumbai.

Brick&Bolt

Founded in 2018 by Jayesh Rajpurohit and Arpit Rajpurohit, Bengaluru-based proptech startup Brick&Bolt is a tech-enabled construction marketplace to bring trust, transparency, and predictability to housing projects.

"We have built an in-house price quotation mechanism and a 310-point quality assessment system. All project managers have an inspection app in which they have to key in site updates thrice a week. We believe there should not be any grey area between the contractor and the customer," Jayesh says.

In February 2020, the startup raised $1.5 million in a pre-Series A funding round led by Sequoia India’s rapid scale-up programme Surge, with participation from angel investors like Livspace founders, Meghna Agarwal of Indiqube, Aakash Goel of Trifecta Capital, and Navin Dhanuka of Piramal Fund Management to enhance the company’s core tech problem, growing its current team, and expanding its business into Tier 2 and beyond cities.