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Realty-Tech Startup Renewate Raises $272K In Pre-Seed

Realty-Tech Startup Renewate is a Pune-based company that helps contractors digitize their operation using a simple mobile app. The startup recently raised a funding of $270k in a pre-series round. Venture capitalist firm Better Capital led the round. Renewate also raised an undisclosed amount of funding from Real Estate Accelerator Program (REAP) in the pre-series round.

About the startup

Realty-Tech Startup Renewate

Renewate is a Pune-based startup that was founded in 2018 Debashree and Supratik Ghatak (husband and wife). The startup specialises in taking improvement firms, renovation contractors, real estate professionals and property management firms to do everything digitally. With digitisation, the use of AI and AR and the use of digital tools to complete projects faster will also help contractors save their time.

The main idea of the startup

Realty-Tech Startup Renewate

Vaibhav Domkundwar, CEO of Better Capital, said, “Renewate is filling an important gap in this multi-billion dollar industry by digitizing contractors with a mobile-first vernacular-first app that brings simple, yet powerful tools to help them work smarter”.

While talking about their goals, Realty-Tech Startup Renewate founders said, “We want to remove the common pain points that contractors and professionals face. Many of the contractors, who are our customers, are at the bottom of the pyramid when it comes to literacy and education but really up the chain when it comes to showcasing high-value skill sets”.

Future of the startup

With everything moving online, the need to have everything done digitally is a necessity. And Renewate does exactly that. By helping contractors get online, they are enabling them to meet project deadlines and at the same time, save money. It also helps them get everything done more efficiently with fewer chances of error.

Real-Estate is a wide market and simply targeting that market enables a huge scope of growth for startups. According to certain reports, it is projected that the Real-estate market is going to grow from 12,000 crores in 2019 to 65,000 crores by 2040. Calculations also say that it will contribute to 13% of India’s GDP in the next few years.

It’s great to see that even households are generating ideas for startups. I am noticing that nowadays most startups are trying to bring a digital revolution in a particular field. What are your thoughts on the same? Do you think these startups will be successful? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.




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