Real Estate Tech Fund: Nila Spaces Launches USD 1M VisionX Program

New Delhi, Dec 19 (PTI) Realty firm Nila Spaces on Tuesday said it has set up a USD 1-million fund to support technology startups in the real estate sector.

In a statement, Ahmedabad-based Nila Spaces said it has started a VisionX Program, an initiative with a commitment of USD 1 million dedicated to prop-tech startups.

Managed by Awfficacy Capital, VisionX is a 12-week rolling accelerator programme tailored to nurture and elevate early-stage prop-tech startups.

Participants will benefit from personalised mentorship, access to the prop-tech ecosystem and immersive sessions on business development and investor readiness.

To become eligible for participation, startups must be at seed-stage or early-stage, demonstrate innovation in their product or service, possess high growth potential and scalability, and having committed to actively engaging with mentors, advisors, and the prop-tech ecosystem at large.

Deep Vadodaria, CEO of Nila Spaces, said, "In today's real estate evolution, innovation is a necessity, not a choice. The VisionX Program is our commitment to propel prop-tech startups, providing capital, mentorship, and a sustainable ethos -- an investment in the future of real estate innovation and the promotion of entrepreneurship in the Indian youth."

Realtors' bodies CREDAI and NAREDCO have also started prop-tech funds to support startups.

Real estate developer Brigade Enterprises and property consultant CBRE are also running programmes to support such startups.