| Log in
TMT

Realty-tech startup Propstack gets backing from top PE professionals

07 February, 2018

Commercial real estate intelligence provider Propstack Services Pvt. Ltd has received backing from a clutch of private equity and hedge fund professionals.

Propstack said in a statement that its new strategic investors include Kotak Investment Advisors managing director S Sriniwasan, KKR director Ashish Khandelia, Kotak Mahindra Bank’s president-consumer banking Shanti Ekambaram, and US-based Rohatyn Group’s managing director TS Sivashankar.

All the investments are being made in a personal capacity. The size of the investment was undisclosed.

Mumbai-based Propstack was founded in 2013 by Raja Seetharaman, Shubhankar Dongre and Sandeep Reddy. The five-year-old company provides corporates, funds, rating agencies, brokers, property owners and developers with information on commercial buildings.

Propstack’s business is based on an online subscription model, which provides building information, analytics, client stacking, availability/vacancy details, transaction details and trends.

“Data and technology are extremely critical to commercial real estate in particular and real estate in general,” said Sriniwasan.

The company had closed its Series A round of funding of $3 million in June 2015. The investment was led by DMG Information, a subsidiary of UK-based media house Daily Mail and General Trust, the publishers of British newspaper Daily Mail. Real Capital Analytics, which provides a suite of reports and tools to research commercial real estate, had also participated in the round.

Since that funding round, Propstack has built a commercial real estate tech and data platform across eight tier I and II cities.

In June last year, Propstack launched what it says it the largest developer loan database, which is being used by industry players to build their loan book. Last month, it soft launched PropMODI, a business-to-consumer (B2C) research and transactions data platform.

Propstack’s peer Reniso, an end-to-end property management startup, had raised an undisclosed amount of seed funding from a consortium of high net-worth individuals last November.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
DMGI leads $3M funding round in commercial realty data & analytics startup Propstack

DMGI leads $3M funding round in commercial realty data & analytics startup Propstack

Adith Charlie and Manu P Toms 3 years ago
DMG Information (DMGI) has led a $3 million (Rs 18.3 crore) Series A round of...
Exclusive: Daily Mail Group retunes investment strategy for tech startups in India

Exclusive: Daily Mail Group retunes investment strategy for tech startups in India

Manu P Toms 3 years ago
DMGI Asia Pacific, a subsidiary of UK’s media house Daily Mail and General...
Daily Mail Group invests over $5M in residential real estate data company Liases Foras

Daily Mail Group invests over $5M in residential real estate data company Liases Foras

Manu P Toms 3 years ago
UK-based Daily Mail Group will invest $5 million (Rs 31.73 crore)  in a...
No Comments

Realty-tech startup Propstack gets backing from top PE professionals

Powered by WordPress.com VIP