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Planet Smart City launches €60m capital raise to accelerate growth, expansion

Planet Smart City

February 22. 2022 Planet Smart City, the London headquartered player in smart affordable housing, today announced the launch of a €60m capital raise to accelerate the Group’s business plans. Planet’s India business is helmed from Pune with ‘Universe’ at Life Republic township in Pune, as a joint venture with Kolte-Patil Developers Ltd., and has plans to expand to Mumbai and Bangalore.

According to a press release issued by the company, the €60m capital increase is aimed at accelerating the implementation of Planet’s ambitious business plan that includes the launch of approximately 54 smart projects over the next three years (a total of over 40,000 housing units). This will provide a platform to help establish Planet as a world leader in the affordable segment housing by 2030 with more than 45,000 homes sold each year.

Planet’s approach to community building is aligned with the highest environmental and social sustainability standards which can be measured through its proprietary digital platform, the ‘Planet App’. Because of this, services are accessible through digital solutions that provide increased convenience.

Giovanni Savio

Giovanni Savio, co-founder and Global CEO of Planet Smart City commented: “The design of new large-scale residential real estate developments is increasingly characterised by a multidisciplinary approach: technological innovation, digitalisation of services, and solutions that promote sociality. In India, we have planned 20+ smart solutions for project ‘Universe’ at ‘Life Republic’ township in Hinjewadi, Pune. We will continue to expand this successful association. ”