Lighthouse PropTech Bags Funding From Turbostart, Others

SUMMARY

Lighthouse PropTech has secured $1 Mn as a part of its $2.5 Mn funding round led by Turbostart, along with participation from the Dabur family office and other high-net-worth individual investors

The startup plans to use the fresh capital to scale up its operations and expand market presence

Founded by Sumesh Mishra and Murtuza Vapiwala in 2023, Lighthouse PropTech claims to be building a tech-driven platform for luxury real estate transactions in India, aimed at streamlining high-end property deals through digital solutions.

Proptech startup Lighthouse PropTech has secured $1 Mn (around INR 8.6 Cr) as a part of its $2.5 Mn (around INR 21.5 Cr) funding round led by Turbostart, along with participation from the Dabur family office and other high-net-worth individual (HNI) investors.

The round valued the company at $13.5 Mn.

The startup plans to use the fresh capital to scale up its operations and expand market presence.

Mishra said that the partnership with Turbostart will provide strategic support beyond just funding. “The demand for seamless, tech-powered real estate transactions is at an all-time high. With this investment, we aim to redefine how HNIs and UHNIs buy, sell, and manage real estate in India,” he added.

India’s proptech market, which leverages technology to streamline real estate operations, has been gaining a lot of traction from investors for quite some time now.

In January, Mumbai-based fractional ownership startup hBits secured INR 40 Cr in its Series A funding round from Capricon Realty, a subsidiary of the Thackersey Group.

In September last year, urban renting-focused proptech startup Flent raised INR 6.5 Cr in a pre-seed funding round led by WEH Ventures. Meanwhile, JUSTO Realfintech bagged $7 Mn in a mix of equity and debt funding.

Also, two days back Nikhil Kamath’s investment firm Gruhas joined hands with Bengaluru-based real estate major Brigade Group to launch a fund for investing in proptech and sustainability-focused startups.

The INR 300 Cr Earth Fund, set up under Zoiros Projects Private Limited, includes an INR 200 Cr SEBI-registered Category II alternative investment fund (AIF) and an additional INR 100 Cr in green-shoe option.

According to a study, the proptech market is poised to become a $4.7 Bn opportunity by 2029 growing at a CAGR of 8.8%. But looking at the broader landscape, startups operating in these areas will have a much larger pie to grab with the real estate market projected to be valued at $1 Tn by 2030.