Aeria Bags Funding From Kalaari, Others To Digitise Commercial Real Estate Management

Proptech startup Aeria has secured $1.8 Mn (about INR 15 Cr) in a pre-seed funding round led by Kalaari Capital and Foundamental. The funding round also saw participation from AC Ventures, AL Trust and a clutch of angel investors. 

The funds will be deployed for business expansion across Southeast Asia, Middle East and other Asian countries, the startup said in a statement. 

Founded in 2023 by former OxfordCaps cofounder Priyanka Gera and Piyush Kateja, Aeria claims to use cutting-edge technology and artificial intelligence (AI) to digitise commercial real estate management.

It claims to offer comprehensive solutions, integrated with multiple technologies, to create engaging digital experience in one app to manage operations by digitising and automating manual tasks. 

“Commercial real estate in Asia Pacific is estimated at 52 Bn square feet, expanding at a CAGR of 15%. However, most owners currently rely on traditional methods to manage facilities and tenants. We aim to use technology to transform this experience and bring in efficiency to the owner’s operations,” said Gera, cofounder and CEO of Aeria.

Commenting on the funding, Kalaari Capital partner Sampath P said, “In an environment of digital disruption and technology, focus on improving tenant and visitor experiences is not an option. It is mission-critical. We believe that commercial real-estate is going to get a massive digital upgrade. We are proud to be backing Priyanka for the second time and believe in her ability to redefine how people engage with offices and shopping malls on a daily basis.”

Aerie’s product suite includes state-of-the-art access and parking management systems, delivery-to-desk services, fully integrated and seamless visitor management solution, end-to-end well automated complaint resolution, last-mile commute addition, F&B integration, move-in services, and community management, among others. 

The startup claims that Aeria’s detailed analytics suite helps developers and asset managers improve financial performance by up to 15% by making data-driven decisions. Its dashboard presents insights on various asset risks, demand forecasting, space management, rental optimization and tenant segmentation. 

The development comes at a time when proptech startups have been receiving a lot of interest from investors as they look to cash in on the opportunity to digitally transform the real estate market.

Recently, proptech startup Marrfa bagged an undisclosed amount of funding in a pre-seed round led by Berlin-based VC firm Foundamental for expansion across the UAE, Singapore, and Europe, tech innovation, and to hire talent across the geographies the startup operates in. 

Last year in December, Mumbai-based proptech startup GetSetHome raised $1 Mn in a seed funding round to accelerate growth by expanding its presence into new micro markets, enhancing its platform and UX to strengthen its customer presence in Mumbai and Pune.