Real estate consulting services startup PropertyPistol.com, a proptech company, has raised Rs 45 crore from investors, including ICICI Bank and Baring Private Equity Partners, to grow its operations. Ashish Narain Agarwal, an IIT alumnus, launched the PropertyPistol company in Mumbai in 2012. Tushar Shrivastava later joined as a co-founder. For home purchasers, real estate agents, and developers, it provides a range of technological solutions and consultancy services.

It intends to use the money to boost its presence in more recent markets both in India and internationally and to grow its leadership team across all company divisions. Ashish Narain Agarwal, founder and CEO of PropertyPistol, stated that the money raised "will help the company expand its operations into newer geographies and yield significant business growth and value in the future."

In addition to strengthening core verticals like the syndicate broker platform and project mandates, the company will concentrate on developing new products. According to Varun Batra, Partner at Baring Private Equity Partners India, PropertyPistol has invested its funds wisely to create a highly reliable and successful company.

The investment will enable the company's next phase of expansion, which will place a stronger emphasis on distribution and marketplace technology. In India and the Gulf Cooperation Council (GCC), PropertyPistol claimed to have assisted in the sales of more than 20,000 residences, managed more than 5,000 projects, and reached a total transaction value of almost $2 billion.

Data from Housing.com shows that Indian proptech companies earned $3.42 billion in private equity capital overall between 2009 and June 2022. Investors are placing their bets on proptech companies as the real estate industry has seen a considerable surge in the last three years in the adoption of cutting-edge technologies like artificial intelligence (AI), the internet of things (IoT), and virtual reality.

Recent investments by HDFC Capital Advisors have boosted their ownership of the proptech startup Loyalie IT Solutions (formerly known as Reloy) from 7.2% to 9.6%. Landeed funded $8.3 million (more than Rs 67 crore) in January to grow its operations. The goal of Landeed is to create a thorough property title search engine. Investors including international venture capital firms Accel and Celesta Capital contributed $10 million (about Rs 80 crore) to Brick&Bolt. 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.