ADDA, a startup that provides software solutions for managing housing societies, plans to invest Rs 15 crore over the next year to expand its business in India, according to San Banerjee, co-founder and CEO.
ADDA, founded in 2009, has clients in more than ten countries, including India, the United States, the Middle East, and Singapore. ADDA serves clients in over 80 cities across India. Its client base in India reaches 3,500 communities.
ADDA includes all of the functions needed to administer a housing society, including visitor administration, invoicing and collection of society dues, facility booking, assets, and inventory, among others. There are various advanced features, such as violation tracking and an AI-powered community helpdesk.
"We will invest Rs 15 crore in India operations to increase our presence in the association's category across seven key cities. The cash will also be utilized to enroll developers who are more concerned about resident experience and post-sales automation in the current era of AI (artificial intelligence)," Banerjee said.
She stated that the corporation hopes to increase its income from India by 20-25 percent.
ADDA is a profitable company, with revenue entirely derived from software subscriptions, she added.
ADDA is used by properties owned by various prominent developers, including DLF, Rustomjee, Prestige, Sobha, Oberoi, Seawoods Estates, and Brigade. Some developers, such as Embassy Group and ASBL in India and Knight Frank Singapore, have created branded experiences based on the ADDA App, which they utilize across all of their properties.
In India, the majority of ADDA clientele are Resident Welfare Association (RWA) or Owners Association Management Committee members.
However, in Dubai and the rest of the Middle East, Owners Association Management Companies (OAMs) that administer various communities directly subscribe to ADDA and use it across all of them.
In the United States, as in India, Self Managed Homeowners Associations (HOAs) have acquired direct subscriptions to ADDA.
