Jones Lang LaSalle’s (JLL) India unit, has launched its new independent Real Estate Technology Investment vertical to invest in startups developing innovative and disruptive technology solutions specific to the real estate sector.
“With this investment vertical, JLL has its eyes trained on Geographic Information Systems, 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 – on a broader level – the Internet of things,” the company’s Chairman & Country Head Anuj Puri said.
The newly formed entity has already made its maiden investment into Foyr.com, a technology platform for visualizing real estate spaces.
The initiative is being spearheaded by Anuj Nangpal, who will head JLL India Real Estate Technology Ventures.
“Typically, an early-stage company needs anything between $100,000 to $2 million to go from proof-of-concept to growth in a period of around 12-18 months,” says Anuj Nangpal.
“JLL’s proprietary capital, along with its strategic partners, will finance this cycle. In the first 12-18 months, we plan to invest in approximately 10-15 such early- stage companies. Given the Firm’s very strong balance sheet, there is limitless scope for such investments.”