PropTech Fund of HDFC Capital Will Invest in 15 Enterprises

Mumbai:

HDFC Capital Advisors, a subsidiary of India's largest private mortgage lender HDFC, has chosen fifteen Indian firms to receive funding from its property technology fund, HDFC Affordable Real Estate and Technology Program (H@ART).

It had attracted over 500 crores from global investors as the first close of its property technology fund in September in order to aid entrepreneurs that promote innovation and efficiency within the affordable housing ecosystem.

These 15 companies were selected by HDFC Capital's HDFC Tech Innovators programme in partnership with the government of India, other major global and Indian funds, universities, and industry organisations in order to identify the most innovative proptech startups.

Hardeep Singh Puri, minister of housing and urban affairs, remarked in a video presentation at the H@ART conference held in Mumbai,

"We have seen that the real estate business has adopted and absorbed technology at a slower pace than other infrastructure categories."

According to him, these efforts to promote the use of technology in Indian real estate will encourage entrepreneurs to produce more innovative concepts targeted at enhancing the national housing environment.