HDFC Capital, an arm of Housing Development Finance Corporation, on Wednesday said it will invest in 15 startups, which were the part of the real estate tech innovation summit. The company has already invested in three startups — Loyalie, HomeExchange and Monsoon Credit, according to a statement .
The company had made the investments through its tech platform, Housing and Affordable Real Estate and Technology (H@ART), aimed at bringing together developers, real estate funds, venture capitalists, PE funds, startups, academia and industry associations.
So far, startups operating in real estate space have raised $110 billion in last six years. Real estate sector startups increased by 48% post the pandemic, but still account for only 6% of the total recognised startups in India. Out of the 65 unicorns created in India over the last year, only one-two were in the real estate sector.
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“H@ART is a unique initiative for real time interaction between demand (industry), supply (startups) and financiers to accelerate adoption of technology in the built world,” Deepak Parekh, chairman HDFC
“Such platforms are essential for the real estate industry which is the second-largest employer in India, and is expected to contribute 13% to the GDP in 2030,” Hardeep Singh Puri, Union minster for housing & urban affairs and minister for petroleum & natural gas, said.