Strata Raises $6 Mn in Funding Led by Kotak Investment Advisors
Strata, India’s one of the leading tech-enabled commercial real estate (CRE) investment platform, has raised $6 million in a Series A round co-led by Kotak Investment Advisors Limited, Gruhas Proptech (an exclusive fund by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana Group for proptech investments and special situations), Sabre Investments (an investment arm of Rahul Talwar, Promoter Family of DLF). This round also saw participation from Elevation Capital, Mayfield India and Gemba Capital. Previously, in March, 2020, the company had raised $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. 1500 crore by FY21-22. The company is eyeing to spread its geographical footprint across key markets of Mumbai, Hyderabad, Chennai Bengaluru, Delhi and, Pune. The company 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 who will aid its growth plans of building a strong asset portfolio across the country. Incorporated in May 2019, and founded by Sudarshan Lodha and Priyanka Rathore, Strata envisions to be the largest alternative investment platform in the country for retail investors by enabling them to invest in CRE assets—by fractionalizing assets and offering it on an easy-to-use online platform. With its data-driven asset selection and single-window platform, it brings transparency and ease of liquidity to CRE investments. Currently, Strata’s platform has over 15,000 users platform along with an active base of more than 1,000 investors globally. While 20% of the investor base comprise NRIs, others include HNIs, family offices, top management from Fortune 500 companies as well as UHNIs and institutional investors.
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