Bengaluru-based real estate major Brigade Group’s startup accelerator arm- Brigade REAP plans to invest in six to eight startups each year, according to Abhay Garg, Head of Brigade REAP.
“We plan to invest between $100,000 and $200,000 per start-up,” he added. Earlier on Thursday, the start-up accelerator announced that it has invested $500,000 in gig-based real estate start-up Settlin as part of a funding round involving multiple investors.
Commenting on the investment, Garg said, “Brigade REAP aims to invest in start-ups beyond its accelerator portfolio, broadening its impact on India’s Prop Tech ecosystem.”
Settlin, founded in 2016, is a Prop Tech start-up specialising in the end-to-end execution of residential property resale, eliminating the reliance on traditional brokers. Previously, the start-up raised $1 million in a pre-Series A round from Powerhouse Ventures, GSF Fund, Murugavel Janakiraman, Dinesh Agrawal, and other investors.
According to the company’s release, Settlin recorded sales of 1,000 homes, with a gross transactional value (GTV) of approximately ₹900 crore.