Property consultancy firm Jones Lang LaSalle (JLL) India has launched a dedicated real estate technology investment vertical that will invest in startups and growth-stage companies developing technology solutions specific to the real estate sector.
The new vertical will focus on areas such as geographic information systems (GIS), visualisation and augmented reality, artificial intelligence, sustainable energy, water efficiency, smart commercial buildings, smart city tech applications, property management technologies, data analytics, home automation and Internet of things, JLL India chairman and country head Anuj Puri said in a statement.
JLL India Real Estate Technology Ventures is backed by JLL’s global proprietary capital.
Anuj Nangpal will head the new vertical and will work closely with JLL’s various business lines and financial partners to deploy seed capital into the identified firms.
The vertical has made its maiden investment into Foyr.com, a Hyderabad-based interior designing startup. Foyr had in last year raised under $1 million from Astarc Ventures. The startup, operated by JBR Interio Technologies Pvt. Ltd, also counts Brick Eagle Capital Group as an investor.
“Foyr’s unique technology has global appeal, and the advancements they have made in AR/VR (augmented reality/virtual reality) are globally competitive and scalable,†said Puri.
The investment fund focuses on early-stage company needs $100,000 to $2 million to go from proof-of-concept to growth in a period of around 12-18 months. “JLL’s proprietary capital, along with its strategic partners, will finance this cycle,†Nangpal said.
The new vertical plans to invest in 10-15 early-stage companies in the first 12-18 months.
The investment vertical expects to announce three more investments before the end of 2016.
This will be an independent investment entity but JLL will explore the potential of working with private equity funds and financial institutions to make larger investments, if needed.
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