Aeria, Tenant Experience Platform, Secures $1.8M Pre-Seed Funding Led by Kalaari Capital and Foundamental

• ByStartupStory     |    March 26, 2024

Aeria, a tenant experience and asset management platform catering to commercial real estate, has successfully raised $1.8 million in pre-seed funding. The funding round was spearheaded by Kalaari Capital and Foundamental, with additional participation from AC Ventures, AL Trust, and other investors.

Led by Priyanka Gera, former co-founder of OxfordCaps, alongside Piyush Kateja, an alumnus of the Indian Institute of Management (IIM), Aeria is poised to utilize this capital infusion to bolster its presence across Southeast Asia, the Middle East, and other key Asian markets over the coming year.

The company distinguishes itself by leveraging advanced technologies, including artificial intelligence, to redefine the traditional notion of office buildings from mere commodities to immersive experiences.

“In an environment where technology adoption is on the rise within the real estate sector and with an increasing presence of Generation Z in the workforce, the workplace has transitioned from being a commodity to a service, and now to an experience,” explained Priyanka Gera, Founder and CEO of Aeria.

Aeria’s comprehensive suite of solutions, seamlessly integrated with multiple technologies, consolidates various functionalities into a single application. These functionalities range from digitizing and automating manual tasks to enhancing operational efficiency. Services provided include access and parking management systems, delivery-to-desk services, visitor management solutions, complaint resolution automation, last-mile commute integration, F&B services, move-in assistance, and community management.

Moreover, developers and asset managers can harness Aeria’s detailed analytics suite to optimize financial performance by up to 15%. These analytics offer insights into asset risks, demand forecasting, space management, rental optimization, and tenant segmentation, empowering stakeholders to make informed, data-driven decisions.

Sampath P, Partner at Kalaari Capital, emphasized the critical importance of enhancing tenant and visitor experiences in the post-COVID era of real estate. “Commercial real estate is poised for a substantial digital transformation. We are proud to support Priyanka for the second time and have full confidence in her ability to redefine daily engagement with offices and shopping malls,” Sampath added.

Despite being one of India’s largest industries, real estate has historically lagged behind in technology adoption. However, the recent surge in funding to venture-backed proptech companies, surpassing pre-pandemic levels, indicates a significant shift in this trend. According to data from Crunchbase, VC-backed real estate companies raised $13.4 billion in 2023, marking a substantial increase from the previous year and the highest level recorded in the past decade.

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