 Oya rooms, co-working and co-living spaces, security solutions for gated communities such as MyGate and even Aleksa are some examples of PropTech but what exactly is PropTech? Hello, this is Tahira Noor and in this video I'll tell you what is PropTech. PropTech, a property technology, is basically innovation using technology to disrupt the traditional real estate sector. Here's how Angela Crystal Donati, a real estate entrepreneur and a PropTech founder explains the scope of the term. She claims PropTech can be a software, a hardware, a construction material or a manufacturing product. The concept of PropTech started in the 1980s with the boom of the internet. It also marked the first wave of PropTech. During the first wave, real estate listed their offerings on websites. The second wave of PropTech was marked by venture capitalists backing PropTech startups. According to H-Prop CEO Bernard Tong, PropTech 2.0 has four key drivers. They are data-driven analysis, shared economy, real estate fintech and blockchains. He says data mining is trawling in-depth data and making use of the data by organizing them. While the shared economy describes tech platforms which facilitate the use of the property, co-living and co-working spaces are shared economy PropTech. Today PropTech 3.0 is emerging which is providing services in the real estate sector backed by technology. Alexa is an example of PropTech 3.0. Blockchain, artificial intelligence, intelligence augmentation, machine learning, deep learning, big data analytics, computer vision and the internet of things are technologies used by PropTech startups. Investment in the PropTech sector has been constantly rising. In 2011, investment in PropTech was $186 million globally and it rose to $2.67 billion in 2016. In India too, PropTech is becoming a hot proposition. According to JLN's report, the growing influence of PropTech, India has the largest number of funded PropTech startups in the Asia-Pacific region. Oya Rooms and Indian startup which is a unicorn is a PropTech. It has now expanded its operations globally. State players are modernizing the real estate and betting on PropTech. Brigade Group, a major real estate player in South India, has started its own startup accelerator program for PropTech startups called Brigade 3. The first cohort was launched in October 2016 and the program has mentored 24 startups since then and interacted with over 2000.