The PropTech market in India has seen lots of movement within the last few years and even months. In 2020, $551 million have been invested into the national industry to help companies grow and expand.
Furthermore, the first PropTech Unicorn has been valued on the Indian market which is called NoBroker and will be discussed in more detail later in the article.
To compile this ranking we are referring to the total amount of funding, each company has received according to crunchbase.com. The Indian PropTech business with the highest amount is in the first place, followed by the other four biggest ones.
India’s Top 5 PropTech Companies 2023
- Stanza Living
What are PropTech Trends for 2023?
For the year 2023, companies are focusing on effectively using artificial intelligence and data analytics to predict real estate market behaviour and price trends. Blockchain will also play an important role, as it enables individuals and businesses to fractionally invest in properties and also helps to create peer-to-peer marketplaces.
Another trend for 2023 is the expansion of virtual and augmented reality for house tours but also as a tool for the construction and planning of buildings. Lastly, Building Management and Automation Systems will see further implementation in the development and operating phase of real estate.
India's Top 5 PropTech Companies 2023
The number one PropTech company in India when it comes to funding is called “NoBroker”. They are the first unicorn in this industry with a valuation of $1.01 billion in November 2021. NoBroker was founded in 2014 by Amit Agarwal, Saurabh Garg and Akhil Gupta. NoBroker has received $426 million in funding, with their latest series E round adding around $210 million.
As the name suggests, their goal was to create a peer-to-peer real estate transaction platform that eliminates fees from the common middlemen, such as brokers or agents. They are engaged in buying, selling, as well as renting all kinds of residential and commercial properties.
In order to handle the $2 billion worth of transactions per year smoothly and safely, NoBroker is verifying each listing and providing as much information as possible to the potential customer. Furthermore, the company is assisting the sales process by providing all the necessary documents and helping with governmental approvals.
In the second place of India’s top 5 PropTech companies is “Infra.Market”. The procurement marketplace has been founded in 2016 by Aaditya Sharda and Souvik Sengupta. They have their headquarter located in Mumbai and received a total of $326.6 million in funding. In 2021, Infra.Market has been valued at $2.5 billion.
The purpose of this company is to simplify the sourcing of construction materials and enhance real estate procurement processes. To accomplish this, Infra.Market created an online B2B marketplace that centralizes the demands of clients and matches them with suitable businesses along the supply chain. By collecting information throughout this process, the company is able to offer fairer prices and innovative technologies.
Infra.Market has expanded into the Business-to-Retail (B2R) sector and created 620 private label stores throughout India, which they want to expand to 2,000 in 2022. So far, these steps had a positive impact on the business as currently, around 60% of the more than $100 million in revenue are related to private labels.
“Stanza Living” is the third-largest PropTech company in India when considering the amount of funding. The business received a total of $172.2 million, of which $102 million have been raised in a Series D round in April 2021. Anindya Dutta and Sandeep Dalmia established Stanza Living in 2017, in New Delhi, where its headquarter is located. The company is currently valued at nearly $500 million.
Their mission is to provide high-quality co-living spaces for students and young professionals who move to a new city for education or work. In order to satisfy their clients, Stanza Living has a big focus on the services within their premises. These include housekeeping, security, food, internet connectivity, laundry and a variety of social events. Furthermore, they digitized many functions of the co-living spaces with help of the IoT, which makes it easier to organise life within the building.
As of today, Stanza Living has a total of over 70,000 beds and 450 residences that are located in more than 20 cities. These properties help the company to generate a revenue of about $10 million in 2020.
The fourth-largest PropTech company in India is called “Housing.com” and has received a total of $147.8 million in funding. In 2017, the online real estate listing platform has been acquired by the REA group. Housing.com was founded by twelve students of the Indian Institute of Technology in Bombay in the year 2012. Their headquarter is located in Gurgaon, Haryana nowadays.
Housing.com is a real estate listing and advertising platform for residential and commercial properties. With the use of data analytics and extensive research, the company is able to provide marketing tools for brokers and also private homeowners. Other technological solutions on their website include 3D and VR views of properties, an interactive map of available real estate with heat maps as well as prices, and a personalized search function.
The business also offers services around the transaction process, such as loan advisory, help with rental agreements & legal services, interior design & furniture, property inspection & management, and also relocation assistance.
“NestAway” is in place five of India’s top 5 PropTech companies in 2023. Their rental marketplace has received $109.1 million in funding. The latest Series D round in 2019 has added around $4.7 million by Goldman Sachs. NestAway was founded by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Parida in 2015 and is located in Bengaluru, Karnataka.
Their vision is to simplify the search for a new home when relocating to another city and make it more accessible for young people as well as families. NestAway is a rental marketplace that operates in 32 Indian cities and has successfully found more than 200,000 tenants. The company offers services for landlords to easily put their properties on the market which included marketing, house tours, legal assistance and collection of rent as well as deposits.
For tenants, NestAway offers an intuitive search function that divides between private homes, shared living and family homes. Furthermore, they organise the transaction process, take care of maintenance problems and help to move in.
All of the top 5 Indian PropTech companies in 2023 have received significant amounts of funding and are seeing positive changes in their growth. It becomes obvious, that real estate marketplaces and online transaction or listing platforms are the most successful business models in the Indian PropTech industry. The next months and years will show if other types of companies can reach similar levels of progress and growth.
If you want to learn more about PropTech, smart buildings, smart cities, and sustainable real estate, feel free to take a look at our other articles.