Anarock acquires NestAway’s ApnaComplex- Goldman Sachs, Tiger Global, others exit
ANAROCK Group, a tech-led real estate services firm, has made a 100% acquisition of digitally-driven society and apartment management PropTech platform ApnaComplex from NestAway Technologies. As part of the deal Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital have exited the proptech entity.
ApnaComplex is a SaaS product headquartered out of Bengaluru currently serving over 600,000 households across 80 Indian cities. The startup was also among the top ten solutions launched at the Product Launch pad at the NASSCOM Product Conclave. It helps bring order to the usual manual management of housing societies.
“We are ready to invest aggressively in this platform to bring in the required product features and to hire key talent to help deliver value to all stakeholders. Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams,” said Anuj Puri, Chairman, ANAROCK Property Consultant.
Real estate services firm Anarock Group on Tuesday announced the acquisition of society and apartment management platform ApnaComplex.
Anarock has fully acquired the proptech entity from home rental network platform NestAway Technologies.
The deal size was not disclosed. As part of the transaction, the following have exited the proptech entity: Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital.
Headquartered in Bengaluru, ApnaComplex currently manages over 600,000 households across 80 Indian cities, automating several aspects of running large gated complexes.
It has modules for billing & accounting, security & gate management, community engagement, resident services and facility management.
The company is ready to invest aggressively in this platform to bring in the required product features and to hire key talent.
“Our acquisition rationale is to extend innovative features and tech upgrades for homeowners, residents, society managing committees, as well as facility and security management teams,” Puri said.
The advanced tech stack is hosted in the cloud, availed through an intuitive front-end mobile app/web portal and completely automates the day-to-day operations of societies, gated communities and apartment complexes.
It is a mini-ERP and security solution with major modules for billing & accounting, security and gate management, community engagement, resident services and facility management, combining to render a unique experience for residents.
Anarock clocked 36 per cent growth in its revenue at Rs 256 crore in the last fiscal despite demand slowdown in the Indian real estate market.
It provides various services, including residential broking and technology, retail (in partnership with Vindico), commercial, investment banking, hospitality (via HVS Anarock), land services, industrial and logistics, investment management, research, strategic advisory and valuations and project management services (in partnership with Mace).
Anarock clocked 36 per cent growth in its revenue at Rs 256 crore in the last fiscal despite demand slowdown in the Indian real estate market.
It provides various services, including residential broking and technology, retail (in partnership with Vindico), commercial, investment banking, hospitality (via HVS Anarock), land services, industrial and logistics, investment management, research, strategic advisory and valuations and project management services (in partnership with Mace).
“We are clear that ApnaComplex will run independently and with a distinctive culture that the technology world demands. We are ready to invest aggressively in this platform to bring in the required product features and to hire key talent to help deliver value to all stakeholders,” said Anuj Puri, chairman – Anarock Group.
“The post-COVID-19 world underscores the immense traction amongst residents and societies for automated touch-less safety and security measures, as well as the need for reliable services ready at hand,” said Shajai Jacob, chief executive officer, Gulf Cooperation Council, Anarock.
Automation for real estate began with smart homes and has now moved to smart communities.
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