Favo Construction makes it to Brigade’s accelerator programme
Eighteen-week activity to help Hyderabad company unlock value and scale its business
Hyderabad: Hyderabad-based Favo Construction Technologies has made it to the Cohort 10 of Brigade real estate accelerator program (REAP), Asia’s first real estate startup accelerator, with a new track on ‘affordable housing’, in partnership with Habitat for Humanity’s Terwilliger Center for Innovation in Shelter.
Favo makes construction automation accessible to Indian market by providing comprehensive solutions for bricklaying and onsite concrete 3D printing. Favo was co-founded in 2018 by Shiva Bhisne, Gaayatri Yarlagadda and Siri Chandana Vodela.
Shiva Bhisne, co-founder and CEO, Favo Construction Technologies, told Telangana Today, “We have developed a robotics platform that can automate on-site construction and material handling. Brigade REAP will help us in exploring the business opportunities in the real estate sector, both in bricklaying and 3D printing, based on which we can repurpose our robot.”
“Brigade will help us in implementing pilot projects for our robotics technology, as they will enable access to experts and mentors in the real estate sector,” Bhisne added.
Through the partnership, Brigade REAP and Habitat’s Terwilliger Center will work closely with Favo Construction and six other startups to help bridge the gap between innovation in housing and real-world impact. Brigade REAP chose seven startups from 120 applicants as part of the Cohort 10.
In addition to Favo, startups that are selected for the accelerator programme include RecycleX (makes building materials from recycle plastic, industrial and construction debris waste), Homehub Global (offers technology platform to facilitate home construction and mortgages), Troncart (provides smart water-metering solution), Charzer (an aggregator of EV charging stations), Litestore (online platform for listing and booking commercial retail spaces and storefronts) and Navanc (provides property credit scorecard).
These seven startups will be part of a programme that follows an intensive eighteen-week long cycle to help them unlock value and scale their business. As cost of technology continues to fall rapidly, increased technology adoption is poised to transform the affording housing sector.
“We have noticed that PropTech startups with disruptive and innovative technologies are attracting significant investments from investors across the globe,” said John Kuruvilla, chief mentor, Brigade REAP.
“The housing deficit in India is huge and private sector partnerships are critical to provide affordable housing ventures the support they need to scale. This partnership with Brigade REAP reinforces that affordable housing is a high-impact sector for innovation and investment, with interest from adjacent sectors like PropTech and FinTech,” said Anoop Nambiar, country director, Terwilliger Center in India.
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