Proptech funding down 4% to $657m in FY24:


A recent report released by, a prominent real estate dating platform, revealed that funding in proptech firms saw a marginal decline of 4% to $657 million in FY2023-24. Despite this decline, the proptech sector has shown resilience amid global economic uncertainty.

Dhruv Agarwala, Group CEO of and highlighted the resilience of the sector and said, “Given global uncertainty and a general decline in fundraising across sectors over the past few years, the proptech sector has shown remarkable resilience. .” Agarwala highlighted the sector’s impressive growth, recording a compound annual growth rate (CAGR) of 40% since 2010-11, with investments reaching $4.6 billion over the past decade.

The report said the average deal size reached a record $27 million in 2023-24, reflecting strong investor confidence in the digital real estate space. Expressing optimism about the sector’s trajectory, Agarwala said, “Over the last decade, and especially over the last three years, the real estate sector has advanced significantly in adopting innovative technologies. This positive momentum is expected to continue and lead to further progress and efficiency in the real estate market.”

Despite global economic uncertainty, funding in proptech firms saw only a slight decline in 2023-24, with investments totaling $657 million, down from $683 million in the previous fiscal year. This figure represents 90% of the record $730 million investment the proptech sector will receive in 2021-22.

Leading segments in the proptech space include the shared economy (coworking and coliving segments) and building technology, which account for 55% and 23% of total private investment in 2023-24, respectively. These segments continue to attract significant interest and investment and shape the future of real estate.

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Akhil Saraf, founder and CEO of HDFC Capital-backed proptech firm Reloy, highlighted the growing use of technology in the real estate sector, which is driving investor interest in startups. Abhishek Tripathi, co-founder of co-living firm Settl, echoed this sentiment, highlighting the surge in demand for quality living spaces driven by technological disruption and digital transformation.

Tripathi also noted the potential for significant investment in the proptech sector, given its contribution of around 7-8% to the country’s GDP, despite proptech startups accounting for less than 5% of the total recognized startups in the country.’s data covers a variety of investment types, including private equity, venture capital, debt, PIPE (Private Investment in a Public Entity), Special Purpose Vehicle (SPV) private equity, project-level investments and buyouts.

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