Proptech Startup BricSpaces raises $350K from Shan Krishnasamy & Others
BricSpaces, a Bengaluru-based proptech startup that caters to end-to-end real estate streams with digital transactions has raised $350,000 in a pre-seed round from prominent investors.
Incubated by Embassy-backed WeWorkLabs, the startup raised funding from Shan Krishnasamy, the co-founder of Freshworks; serial tech investor Bharat Kapoor of 50k Ventures; and Eeva developer Vishal, among others.
Bricspaces founded in 2018 is a prop-tech company that finds and customizes offices, living, or retail spaces based on customer requirements. The state-of-the-art management platform helps property owners manage accounts, finance, facility maintenance, security and gate management, communications, and much more!
“Real estate is highly fragmented and one of the most unorganised sectors in India. Post discovery of the property, there is a major challenge in distribution of real estate, which broadly caters to match-making the right product, legal clearances, contract reviews, negotiations, and payments,” says, Madhusudhan AV, Founder and CEO, BricSpaces.
“By digitising using technology back-end operations and by transforming day-to-day real estate management into a seamless cloud-based platform, we have created a transaction management dashboard allowing from discovery to booking on a single platform,” he added.
The startup is working with more than 1,000 channel partners to enable the transactions in metros.
BricSpaces claims to have closed more than Rs 40 crore in transactions in its first year of operation and has pipeline orders worth Rs 80 crore even during the pandemic. With a large market of agent brokerage of $3 billion in India annually, BricSpaces wants to be a market leader, targeting one-third of the market share in the coming years with aggressive scale using technology.
The startup is aimed at millennials who will use aggregator services to purchase assets in a more timely and transparent manner.
BricSpaces intends to use this funding to expand its team, which currently employs over 20 people in Bengaluru, Chennai, and Mumbai. The company stated that it intends to hire approximately 30 new employees across various metro areas, bringing the total team size to 60 by the end of the year. The company is currently looking to hire product engineers.
Incubated by Embassy-backed WeWorkLabs, the startup raised funding from Shan Krishnasamy, the co-founder of Freshworks; serial tech investor Bharat Kapoor of 50k Ventures; and Eeva developer Vishal, among others.
Bricspaces founded in 2018 is a prop-tech company that finds and customizes offices, living, or retail spaces based on customer requirements. The state-of-the-art management platform helps property owners manage accounts, finance, facility maintenance, security and gate management, communications, and much more!
“Real estate is highly fragmented and one of the most unorganised sectors in India. Post discovery of the property, there is a major challenge in distribution of real estate, which broadly caters to match-making the right product, legal clearances, contract reviews, negotiations, and payments,” says, Madhusudhan AV, Founder and CEO, BricSpaces.
“By digitising using technology back-end operations and by transforming day-to-day real estate management into a seamless cloud-based platform, we have created a transaction management dashboard allowing from discovery to booking on a single platform,” he added.
The startup is working with more than 1,000 channel partners to enable the transactions in metros.
BricSpaces claims to have closed more than Rs 40 crore in transactions in its first year of operation and has pipeline orders worth Rs 80 crore even during the pandemic. With a large market of agent brokerage of $3 billion in India annually, BricSpaces wants to be a market leader, targeting one-third of the market share in the coming years with aggressive scale using technology.
The startup is aimed at millennials who will use aggregator services to purchase assets in a more timely and transparent manner.
BricSpaces intends to use this funding to expand its team, which currently employs over 20 people in Bengaluru, Chennai, and Mumbai. The company stated that it intends to hire approximately 30 new employees across various metro areas, bringing the total team size to 60 by the end of the year. The company is currently looking to hire product engineers.
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