Bengaluru-based real-estate tech startup, Strata recently announced that it has raised $1.5mn in a seed funding round led by SAIF Partners and Mayfield India. PropStack, a real-estate data analytics platform, along with three other angel investors also participated in the round.
The company plans to use these funds for hiring in tech and investor relations roles with an aim to double its team size to over 45 members. Currently operational in Bengaluru and Mumbai, the startup aims to create new investment opportunities in premium commercial properties. The team also intends to use the funding to expand to other metro cities and strengthen its tech stack.
In an official statement, Strata Co-founder Sudarshan Lodha said, “As a brand, we are focused on bringing in transparency and a data-driven approach to investments in real estate. Aiming to touch ₹250CR of AUM in this calendar year, we are creating India’s largest tech-enabled real-estate investment platform with our fractional investment model.”
“Additionally, we are also excited about our strategic investment from PropStack as it will help us get exclusive CRE intelligence and analytics, which in turn, will allow us an edge over other platforms in the ecosystem,” added Sudarshan.
Founded in 2019 by Sudarshan Lodha and Priyanka Rathore, Strata is designed to help reduce the high capital requirement for investors, bring in expertise and introduce liquidity to an otherwise rigid marketplace. The company claims to have over 1,500 users and has over 150 active investors on the platform.
Commenting on the investment, Srinivas Bhaskar, Vice President, SAIF Partners, said, “We are thrilled to partner with Strata which is delivering outstanding innovation and results in the prop-tech space in the country. We have a strong belief in the founding team’s vision of creating new investment opportunities for the middle-class in the country. We are excited for this journey ahead with Strata.”
With the latest fund infusion, Strata is aiming to create new investment opportunities in the premium commercial property space for aspirational middle-class Indians.
Talking about the business model, Raja Seetharaman, Co-Founder at Propstack, said, “Strata has been able to create a simple, low-cost way for anyone to access real estate’s historically consistent and exceptional returns. Besides, the team is passionate about changing the real estate sector in the country. The combination of Propstack’s data and analytics with Strata’s unique investment platform has created a game-changing proposition. Our objectives are completely aligned and we’re confident of working together to enable efficient real estate investments”.
Subeer Monga, Principal at Mayfield India, commented, “The alternate real estate asset class has been the playground for large institutional investors. With Strata, individual investors can now access real estate investing without needing to invest large sums of money. We are excited to partner with Strata which is creating a new asset class for individual investors.”
Sandeep is a journalism and mass communication graduate with a keen interest in politics and business. He is a part of Research & Content team at HrNxt.com.