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Proptech startup hBits raises Rs 40 Cr in Series A

EntrackrEntrackr · 11m 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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Modulus Housing raises Rs 70 Cr in Series A round

EntrackrEntrackr · 26d ago
Modulus Housing raises Rs 70 Cr in Series A round
Medial

url: https://entrackr.com/news/modulus-housing-raises-rs-70-cr-in-series-a-round-10830476 Content: Modulus Housing raises Rs 70 Cr in Series A round Proptech startup Modulus Housing has raised Rs 70 crore ($7.83 million) in its Series A round led by Kalaari Capital, Hero, and Samarthya. The round also saw participation from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and other investors. This is the company’s first institutional funding. Founded in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing operates a factory-made construction model for modular buildings. It uses a cloud manufacturing network made up of partner factories and a proprietary product suite to produce structures for low-rise infrastructure. The company claims to run a profitable business with cumulative revenue of more than Rs 200 crore. The company’s operating revenue increased 38% to Rs 54 crore in FY24 from Rs 39 crore in the previous fiscal year. It didn’t disclose its FY25 numbers. The proceeds will be used for market expansion across India and select global markets, advanced R&D, a next-generation concrete modular system, and scaling its cloud manufacturing network. Modulus also plans to expand its green concrete technology for distributed infrastructure use cases. According to the company, it has completed more than 1,500 buildings across 21 Indian states and parts of Africa. These include modular hospitals, cold storage units, site offices, schools, and distributed infrastructure projects. Modulus Housing is headquartered in Chennai and plans to expand operations across India and emerging markets.

Emiza raises Rs 100 Cr in Series C round

EntrackrEntrackr · 11m 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.

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