Subscribe To Newsletter
[newsletter_signup_form id=1]
Connect with us
Totalityre

Proptech Buzz

Strata Raises $6 Mn From Kotak Investment Advisors And Others

Elevation Capital, Mayfield India and Gemba Capital also participated in the funding round.

Published

on

Elevation Capital, Mayfield India and Gemba Capital also participated in the funding round.

Proptech startup Strata, which facilitates fractional ownership of commercial real estate, has raised USD 6 million (around Rs 44.6 crore) from investors including Kotak Investment Advisors to expand its business and grow its asset under management. In a statement, Strata said it has raised USD 6 million in a Series A funding round.

This round of funding was co-led by Kotak Investment Advisors, Gruhas Proptech(an exclusive fund by Nikhil Kamath of Zerodha and Abhijith Pai of Puzzolana Group for proptech investments and special situations), Sabre Investments (an investment arm of Rahul Talwar, promoter family of DLF).

Elevation Capital, Mayfield India and Gemba Capital also participated in the funding round.

In March 2020, the company had raised USD 1.5 million in seed funding co-led by Elevation Capital and Mayfield India along with participation from PropStack angel investors.

“The company will use this capital to expand aggressively in the next year, taking its current Asset under Management (AUM) of approx Rs 330 crore to Rs 1,500 crore by FY21-22,” Strata said.

The company is looking to spread its geographical footprint across key markets of Mumbai, Hyderabad, Chennai, Bengaluru, Delhi and Pune.

It also plans to accelerate product development and introduce new investment offerings to yield greater returns for its investors in the long-term.

“Besides, the company is also aiming to double its headcount in the current fiscal year. It is eyeing fresh recruits for the role of tech and product managers, investment managers and asset managers,” Strata said.

Incorporated in May 2019, and founded by Sudarshan Lodha and Priyanka Rathore, Strata aims to be the largest alternative investment platform in the country for retail investors by enabling them to invest in commercial real estate (CRE) assets — by fractionalizing assets and offering it on an easy-to-use online platform.

“Our aim is to democratize CRE as an asset class like never before in India. This fresh round of financing comes at a critical point in our business, enabling us to accelerate our expansion plans and build and innovate our product portfolio, as we gear up for our next phase of growth,” Sudarshan Lodha, CEO, Strata said.

Strata is a tech-enabled CRE investment platform that allows investors to own and sell units of pre-leased, Grade-A commercial properties such as office spaces, warehouses and industrial assets.

Source: PTI

(The story has been published from a wire feed without modifications to the text. Only the heading has been changed)

ALSO READ: LIC Housing Finance Reports Decline In Net Profit By 81% To Rs 153.44 Cr In Q1 FY22

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

© 2021 RealtyNXT | All Rights Reserved.