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Real estate consulting services company Property Pistol has received Rs 45 crore from investors including ICICI Bank and Baring Private Equity Partners to grow its operations. Property Pistol was founded by Ashish Narain Agarwal, an IIT alumni in 2012. Tushar Shrivastava later joined as a co-founder. It provides developers, real estate agents, and home buyers with a range of technological solutions as well as consultancy services.
The company has received Rs 45 crore in Series A funding with the help of ICICI Bank and Baring Private Equity Partners India. It will use the money to diversify its leadership team across company functions and increase its presence in more recent markets, both domestically and internationally. The company will concentrate on developing new products in addition to strengthening core verticals like the syndicate broker platform and project mandates.
PropertyPistol has invested its funds wisely to create a highly reliable and successful company according to Varun Batra, Partner at Baring Private Equity Partners India. He further stated that the investment will enable the company's next phase of expansion which will place a stronger emphasis on distribution and marketplace technology.
Property Pistol has assisted in the sales of more than 20,000 residences, managed more than 5,000 projects and attained transaction values of almost USD 2 billion throughout India and the Gulf Cooperation Council (GCC). The proptech businesses in India got a total of USD 3.42 billion in private equity capital between 2009 and June 2022 as per data from Housing.com. Investors are placing their bets on proptech companies since the real estate industry has considerably boosted its use of innovative technologies over the past three years including artificial intelligence, the internet of things and virtual reality.
HDFC Capital Advisors recently increased its holdings from 7.2 percent to up to 9.6 percent in the proptech firm Loyalie IT Solutions (Reloy). Landeed raised USD 8.3 million (more than Rs 67 crore) in January to grow its business. The goal of Landeed is to create a thorough property title search engine. Brick&Bolt has raised USD 10 million (about Rs 80 crore) in funding from a group of investors that includes global venture capital firms Accel and Celesta Capital. Brick & Bolt was founded in 2018 and uses an e-commerce model to offer a full range of services such as building materials and construction for homes and businesses.
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