You are here: Home » News-ANI » Business
Business Standard

SpideyManage scouts for investors to expand estate management business

Business Finance


SpideyManage, a single platform that integrates all aspects of society living by empowering the users with digital tools to handle, control and operate high-rise apartments, gated societies & commercial places is looking to raise 200 crores (USD 28 million) in a seed funding round. The company is in talks with multiple parties for raising funds.

SpideyManage with its unique services is changing the way gated societies & corporates are being serviced in the country, by using technology and becoming an enabler by simplifying and digitizing estate management services.

Primarily serving the National Capital Region (NCR), the company now intends to grow aggressively by expanding into new geographies and adding new product segments features & services.

"Quite a few VCs have reached out to us for funding. But all these talks are in initial stages, and no deal is confirmed yet", said Bhakt Mohan Pun, Chairman - SpideyManage.

"The funding will provide us with the capital to drive its phase of growth in sales, including scaling up operations across National Capital Region and around nine tier 2 cities which may include Lucknow, Agra, Kanpur, Chandigarh, Mohali, Jaipur, etc. We also plan to use the fresh capital to expand our technology infrastructure, strengthen marketing, sales and operations teams and add/build new features/services", he added further.

He further explained that the app and its web/app-based backend are modular offerings that are customizable and have flexibility in the selection of services. The product is designed in such a manner that the modules can be switched on and off and customized to suit the requirement of the client. These features make SpideyManage a unique app for a discerning society/RWA.

The SpideyManage app comes now bundled with various ERP tools developed gradually closely working in the market with the few apartments that initiated the app support, enabled the residents and their RWAs to effectively and effortlessly address the prevailing problems and issues.

Thus, levelling the managers and the managed in their local self-governance. From micro-local services to discussion forums, SpideyManage is currently a one-stop destination for all inter-community and intra-community initiatives.

The app provides corporate-level ERP solutions to the RWA managements. It offers cloud-based Smart ERP tools designed to make administrative tasks easier for estate managers. It works as a personal assistant, accountant, security officer and HR manager, all in one.

It offers an integrated accounting system, streamlined service request management for building users, a visitor gate management solution, scheduling features for shared facilities, and IoT based data collection platform for analytics.

Bhakt Mohan Pun, Chairman of the company launched the start-up with a vision to bridge the gaps that were in the setup of gated infrastructures especially residential.

"In the current scenario of increasing migration and urbanization, the RWAs, the lowest unit in urban democratic setup, are playing a significant role in local governance. We started with a vision to provide a technological platform to the RWAs, which gives them the interactive tools for effective grass-root governance when most of the RWAs and gated infrastructure were working in pen and paper mode", said Pun.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, March 12 2020. 15:24 IST