CET students-led startup bags Rs 10 crore funding from UK firm

THIRUVANANTHAPURAM: In a significant achievement, a student' startup from the College of Engineering Trivandrum (CET), supported by the Innovation and Entrepreneurship Development Centres (IEDCs) programme of Kerala Startup Mission (KSUM), has secured venture capital (VC) funding of Rs 10 crore from a UK-based company.

LAOZ Developers Pvt Ltd, the brainchild of a group of students from CET, lapped up the fund from Ignivia Group, a construction industry firm in the UK.

The pioneering campus-based startup that focuses on real-world asset tokenisation and fractional ownership in real estate was founded by Usman A. Asan, CEO, who is an architectural student, and Sreelal K., COO, an electrical and electronics engineering graduate from the College of Engineering.

The venture leverages blockchain technology to make property investments more accessible, transparent, and inclusive.

Asan said this investment validates their vision as well as empowers them to scale up the platform and bring innovative solutions to the real estate sector.

Lauding the startup for its achievement, KSUM CEO Shri Anoop Ambika said this is a successful example of how the support extended by the government through the IEDCs program can be leveraged to scale up student entrepreneurship and innovation in all higher education institutions.

Anoop said the program opens up immense opportunities for students to translate their ideas and skills into marketable products.

Sreelal, an alumnus of the Electrical Engineering Department, who was instrumental in establishing LAOZ, said the venture works with a group of 15 B.Arch students of CET and the Government Engineering College Thrissur.

By leveraging blockchain technology, LAOZ enables fractional ownership of real estate assets, he said.

Recalling the support by IEDC at CET, Asan said KSUM's program has played a pivotal role in nurturing the company's vision and growth.

LAOZ is backed by a vibrant community of architecture students from CET and other institutions by contributing to its innovative projects and research, fostering collaboration and creativity in sustainable architectural designs.

LAOZ offers streamlined project management solutions for architectural and construction projects, ensuring efficient coordination between architects, contractors, and clients. The platform is designed to simplify workflows, optimise resource allocation, and manage timelines effectively, making complex construction projects more accessible and manageable.

The startup has secured international recognition for sustainable community projects and participated in prestigious forums like the G20 Sustathon and Devcon 7. It has successfully completed multiple projects, including the high-value Cochin Trade Centre project worth Rs 80 crore.

LAOZ has won over 25 national and international hackathons, showcasing their technological and design excellence.

KSUM, the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state, has implemented the IEDCs program in all major higher education institutions in the state.