Lighthouse PropTech, a fast growing startup to revolutionize luxury real estate transactions in India, has raised USD 2.5 million (~INR 21.48 crore) in funding round led by global early stage venture capital firm and accelerator, Turbostart. The round also saw participation from Dabur Family Office and several high net worth individual (HNI) family offices, valuing the company at USD 13.5 million (~INR 116.02 crore).
Turbostart invested USD 1 million (~INR 8.59 Cr) in this round, as they believe in Lighthouse PropTech’s vision to build a next gen, AI powered digital platform for high end and ultra luxury property investments. The company will use the fresh funds to scale operations, expand market presence and accelerate its mission to redefine how HNIs and UHNIs buy, sell and manage luxury real estate portfolios.
A Market Ready to Be Disrupted
Indian luxury real estate market is on a growth trajectory and is expected to touch USD 100 billion (~INR 8.59 lakh crore) by 2030 with a CAGR of 21.81%. Over last 5 years, share of high end and ultra luxury housing sales has doubled driven by increasing wealth of HNIs, digital first approach to transactions and institutional capital coming in. Proptech in India has seen over USD 1.5 billion of funding, growing at 15-20% annually.
Lighthouse PropTech was founded in 2023 by Sumesh Mishra and Murtuza Contractor to tap into this rapidly growing sector by offering innovative solutions like ‘Luxury Listings’ – an exclusive platform for premium properties and ‘Luxury Exclusives’ – tailored experiences for bespoke property deals.
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Leadership Corner
Ganesh Raju, Founder of Turbostart Global said, “India’s luxury real estate boom is being driven by proptech. The numbers are clear – high end housing sales have doubled in top tier cities, institutional investments are coming in and AI driven purchasing has gone mainstream. Lighthouse PropTech is at the heart of this transformation. With 40+ years of combined experience, Sumesh and Murtuza are bringing a disruptive approach to a sector ready to be disrupted.”
Sumesh Mishra, Founder of Lighthouse PropTech said,”Luxury real estate is changing fast and never has the need for tech enabled portfolio management been more pressing. Partnering with Turbostart is more than just funding; it is a strategic ecosystem of expertise, network and technology. This will help us in achieving our mission to redefine luxury real estate investments for HNIs and UHNIs in India.”
Proptech on the Rise
Lighthouse PropTech’s successful fundraising comes at a time when India’s proptech sector is seeing increasing investor interest. Recent developments include Mumbai-based ownership startup hBits securing INR 40 crore from Capricon Realty, urban renting-focused Flent raising INR 6.5 crore in a pre-seed round led by WEH Ventures, and JUSTO Realfintech bagging USD 7 million in equity and debt funding.
Adding further momentum to the sector, Nikhil Kamath’s Gruhas and Brigade Group recently launched the INR 300 crore Earth Fund under Zoiros Projects, aimed at investing in proptech and sustainability-focused startups.
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About Turbostart
Founded in 2019, Turbostart is a global venture capital firm and accelerator with operations in India, the Middle East, the US, and Singapore. Over the last five years, it has launched five funds and supported over 50 startups across diverse sectors.
As Lighthouse PropTech gears up for its next phase of growth, the company stands well-positioned to define the future of luxury real estate transactions in India with cutting-edge technology, strategic partnerships, and a deep understanding of the evolving needs of HNIs and UHNIs.