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Proptech startup hBits raises Rs 40 Cr in Series A

EntrackrEntrackr · 6m ago
Proptech startup hBits raises Rs 40 Cr in Series A
Medial

Proptech startup hBits raises Rs 40 Cr in Series A hBits, a platform for investing in commercial real estate, has raised Rs 40 crore in a Series A funding round from Capricon Realty Private Limited, an entity of the Thackersey Group. The Mumbai-based company had previously raised $3.32 million from Shree Naman Group and others. The funds will be used to enhance its AI-driven technology platform, expand its geographical presence, and bring curated, high-value investment opportunities to a wider audience, hBits said in a press release. Co-founded by Shiv Parekh and Samir Bhandari, hBits aims to empower commercial real estate investment in India. The platform enables investors to access high-yield, Grade-A commercial properties with an entry ticket as low as Rs 10 lakhs. With an average rental yield of up to 10% and an expected Internal Rate of Return (IRR) of up to 18%, it offers a unique blend of stability and growth, appealing to both new and seasoned investors. According to hBits, it leverages advanced AI technology to analyze market trends, evaluate property performance, and identify the best investment opportunities for its users. This data-driven approach helps reduce risk, optimize returns, and provide a seamless experience for investors. The introduction of SM REITs will further enhance this model by offering a regulated framework that mirrors mutual funds, making commercial real estate investments seamless and structured. hBits says that it aims to capitalize on SEBI’s newly introduced Small and Medium Real Estate Investment Trust (SM REIT) regulations to revolutionize access to Grade-A commercial real estate for individual and institutional investors. hBits aims to triple its Assets Under Management (AUM) from Rs 500 crore to Rs 1,500 crore by the end of the next financial year, driven by the launch of its SM REIT offerings. These offerings will provide investors with regulated, diversified, and high-performing options across India’s key commercial real estate hubs.

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Emiza raises Rs 100 Cr in Series C round

EntrackrEntrackr · 5m ago
Emiza raises Rs 100 Cr in Series C round
Medial

Emiza raises Rs 100 Cr in Series C round Supply chain and warehousing startup Emiza has mopped up its Rs 100 crore (approximately $12 million) Series C funding round co-led by Evolvence India and Mirabilis Investment Trust. The round, which came at a valuation of Rs 400 crore (nearly $50 million), comprised a mix of primary and secondary investments, enabling exit for some early investors. The proceeds will be utilized to drive innovation, enhance warehouse technology, improve automation, and expand its footprint with new facilities, Emiza said in a press release. Co-founded in 2015 by Ajay Rao and Jitendra Kumar, Emiza provides logistics and delivery management solutions for e-commerce businesses. It offers warehousing and fulfillment solutions and uses technology and processes to optimize and manage the storage and distribution of inventory. Emiza states that it has emerged as a key enabler in this ecosystem, delivering customized warehousing and fulfilment solutions that elevate customer experiences and drive operational excellence for its partners. The company has recorded 40% year-on-year growth to Rs 102 crore during the fiscal year ended March 2024. However, the profits for the firm dwindled to Rs 2.6 crore in FY24, compared to Rs 4.98 crore in FY23.

Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr

EntrackrEntrackr · 1y ago
Exclusive: Kiran Mazumdar Shaw’s Immuneel Therapeutics raises Rs 100 Cr
Medial

Cancer focused biotech startup Immuneel Therapeutics has raised Rs 100 crore or $12 million in the extension of Series A round from Taiba Middle East FZ LLC. This is the third round of investment for the Bengaluru-based company since its inception in 2018. The board at Immuneel Therapeutic has passed a special resolution to issue 1o equity shares and 8,164 Series A1 CCPS at an issue price of Rs 1,22,330 each to raise Rs 100 crore or $12 million, its regulatory filing accessed from the Registrar of Companies show. The company will use these investments for growth and expansion as decided by the board, the filings further added. As per TheKredible’s estimates, the firm has been valued at around Rs 587 crore or $71 million (post-allotment). Following the fresh proceeds, Taiba Middle East FZ holds a 17% stake in Immuneel Therapeutics. The round appears to be ongoing and it may raise more funds. The company has raised around $40 million to date including its $15 million Series A financing co-led by Eight Roads Ventures, True North, and F-Prime Capital in 2022. Founded by Biocon founder Kiran Mazumdar Shaw, oncologist and Pulitzer winner — Siddhartha Mukherjee and Kush Parwar, Immuneel Therapeutics is an Indian clinical-stage startup which is engaged in developing cell and gene therapies for cancer patients. It’s also working on developing its own pipeline of chimeric antigen receptor T-cell (CAR-T) therapies and other cellular immunotherapies for management and treatment of cancer. The firm claims to offer therapies at one-third of the costs borne for gene therapies in America. While the company is yet to file its annual statements for FY24, six-year-old Immuneel Therapeutics remained at a pre-revenue stage in FY23. Its losses stood at Rs 39 crore in the fiscal year ending March 2023.

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