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Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups

Economic Times · 1y

Spyre PropTech venture fund, with support from Venture Catalysts and NeoVon, plans to raise INR 400 crore ($53 million) as the first phase of its proptech sectoral fund. The overall fund aims to raise INR 800 crore ($106 million) to invest in over 30 Indian proptech startups. The fund has obtained regulatory approval and intends to invest in early and growth stage companies in the range of INR 2-8 crore ($266,000-$1 million) and INR 15-40 crore ($2-5 million) respectively. The Confederation of Real Estate Developers Associations of India (CREDAI) is backing the venture fund.