Gruhas Proptech, DLF Family Office, and Anthill Ventures have announced the launch of the second edition of Gruhas ASPIRE, a six-month scaling program for early-stage proptech startups. With a focus on championing transformational solutions to enhance productivity and sustainability in the construction and real estate sector, the program will enable scale and make strategic investments in cohort winners.

The announcement comes on the heels of successful delivery of the first cohort of the program; out of the seven companies in cohort 1, five have closed a round of funding and the remaining two are in the process of closing a round. Further, three of the early-stage companies have completed their product and commenced go-to-market, and another three have expanded to new geographies and achieved scale.

The program has brought in pilots, forged partnerships with manufacturing and distribution partners, refined business models, and helped with branding and thought leadership. The program partners have funded five of the seven partners directly and by leveraging their investor network. The first cohort will conclude with a demo day in Bengaluru in June.

In the second cohort, selected startups will receive dedicated support in marketing, sales, product, team, and other business challenges. The program will also enable market access via India’s leading developers and property managers. Cohort startups will have the opportunity to secure pilots and POCs through Gruhas Proptech, DLF Family Office, and Anthill Ventures’ strong corporate network, and raise capital via Anthill Angel Funds. There will also be a demo day at the end of the program, where cohort companies will have the opportunity to raise capital and develop relationships with investors, corporates, and government.

According to market research firm MarketsandMarkets, the global proptech market is projected to expand from USD 4.2 billion in 2018 to USD 9.7 billion in 2023, indicating a CAGR of 18.0 per cent. Additionally, Mordor Intelligence forecasts that by 2025, the smart building market will reach USD 109.48 billion, growing at a CAGR of 12.6 per cent between 2020 and 2025. These figures underscore the significant growth potential and market opportunities for proptech startups.