HDFC Capital selects 10 startups for funding and support

HDFC Capital, a subsidiary of Housing Development Finance Corporation Ltd, has shortlisted 10 startups for funding and support during the 2nd H@ART Summit concluded recently.

H@ART Platform recently announced that it has raised over Rs 500 crore through global investors as the first close of its property technology fund, HDFC said in a statement on Wednesday.

The housing and Affordable Real Estate and Technology (H@ART) platform has committed to more than 15 investments in Indian prop-tech startups and has already done investments in companies like Loyalie, HomeExchange and Monsoon Credit, it added.

The platform launched HDFC Real Estate Tech Innovators 2022 challenge in partnership with Startup India, receiving an overwhelming response with over 537 startups categorised under Project Management and Construction Tech, Sales and FinTech and Sustainability Tech.

Of the 10 finalists, 4 were focused on Construction Tech and 3 each on Sustainability Tech and Sales and Fintech, the statement said.

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HDFC Capital through its innovative Housing and Real Estate Technology Platform has organised the HDFC Real Estate Tech Innovator's Challenge 2022 in partnership with Invest India, Housing and Urban Affairs Minister Hardeep Puri said at the event.

Such platforms are essential for the real estate industry, which is the second largest employer in India and expected to contribute 13 per cent of GDP in 2030, he added.

"We at HDFC, firmly believe that technology will play a significant role in the development of a sustainable, efficient real estate ecosystem and in meeting India's 'Housing for All' goal.

"H@ART is a unique initiative for real-time interaction between demand (industry), supply (start-ups) and financiers to accelerate the adoption of technology in the built world," HDFC Chairman Deepak Parekh said.

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