Aeria Founders (L-R): Piyush Kateja, Priyanka Gera, Awnish Kumar
The Commercial Real-Estate (CRE) Tech Landscape
Globally, the CRE tech sector has flourished, with the market potential of tech solutions in CRE across the US, Canada, EMEA, and APAC totaling approximately $52 billion. The United States leads with a market potential of $29 billion, propelled by a mature CRE tech ecosystem comprising platforms that address a myriad of operational and tenant engagement needs, from construction management to tenant experience.
In contrast, India’s CRE market, valued at $125 billion in 2022 and poised to reach $550 billion by 2030, is at the cusp of a digital transformation.
The Indian CRE sector, while rapidly growing, has long been characterized by its manual processes. From access and visitor management to event coordination and facilities management, tasks that could be efficiently handled by digital solutions remain dependent on human intervention. This approach, albeit cost-effective due to lower labor costs, often leads to inefficiencies, errors, and a lack of personalization, detracting from the overall tenant experience. Moreover, the human-led model struggles to scale and adapt to the dynamic needs of tenants, lacking the agility and flexibility that digital platforms offer.
The Need for Digital Transformation
Aeria’s entry to the Indian CRE market is a timely response to the pressing need for digital transformation. As businesses evolve and the workforce becomes increasingly tech-savvy, the expectations for seamless, responsive, and personalized tenant experiences have never been higher.
The current manual and disjointed processes are not only becoming unsustainable but also risk making properties less attractive to potential tenants seeking modern and efficient workspaces. Aeria’s platform represents a paradigm shift, offering a suite of digital tools that promise to enhance tenant engagement, streamline operations, and elevate the overall quality of tenant experiences.
Aeria: Tenant Experience Platform
Leveraging technology, Aeria aims to automate and integrate various aspects of tenant experience management, from access control and visitor management to event planning and facilities maintenance.
This shift towards a digital-first approach is not merely about replacing human labor but rather enhancing and augmenting the human element with technology, ensuring more coherent and engaging tenant experiences. By addressing the inefficiencies of the manual processes, Aeria enables real estate developers and property managers to offer differentiated experiences that can attract and retain high-caliber tenants, thereby increasing the value and competitiveness of their properties.
Aeria’s platform streamlines facilities and tenant management, benefiting:
- Developers: Reduces expenses and improves tenant relationships through digital maintenance and asset management tools.
- Tenants: Enhances the office experience by simplifying operations and improving order, visitor, and access management efficiencies.
- Employees: Digitizes the daily office routine, covering parking to food services, impacting every part of an employee’s day.
Priyanka Gera, Aeria’s Founder & CEO, brings to the table a wealth of real estate experience. Having founded Oxford Caps and with significant tenures at JLL and KPMG, Gera’s deep industry knowledge and passion for addressing real estate challenges are foundational to Aeria’s mission.
“The real estate post-COVID world must evolve, especially the lack of predictability in demand and supply since 2020 in the commercial real estate sector. We believe that commercial real-estate is going to get a massive digital upgrade,” Sampath, Partner at Kalaari Capital.
We, at Kalaari Capital, are thrilled to support Aeria in its journey to redefine the digital infrastructure of commercial real estate. With a solid foundation and a clear vision for the future, Aeria is set to transform the landscape of CRE technology in India and beyond.
Kalaari Capital is an early-stage, technology-focused venture capital firm based out of Bengaluru, India. Since 2006, Kalaari has empowered visionary entrepreneurs building unique solutions that reshape the way Indians live, work, consume and transact. The firm’s ethos is to partner early with founders and work with them to navigate the inevitable challenges of fostering ideas into successful businesses. At its core, Kalaari believes in building long-term relationships based on trust, transparency, authenticity, and respect.
If you are a saas founder building an early-stage company, write to us at saas@kalaari.com