hBits Raises ₹40 Crore to Expand AI-Powered Real Estate Investment Platform
hBits, a platform enabling fractional ownership of commercial real estate, has raised ₹40 crore in its Series A funding round. The investment was made by Capricon Realty Private Ltd, an entity associated with the Thackersey Group, a Mumbai-based business conglomerate with a legacy spanning over 150 years. This funding will help hBits enhance its AI-driven technology platform, broaden its geographical reach, and offer high-value investment opportunities to a larger audience.
The Series A funding is a pivotal step in hBits' ambition to make Grade-A commercial real estate more accessible to individual investors. Traditionally, high-quality commercial properties were the domain of institutional investors. However, hBits’ platform enables individual investors to own shares in these premium assets, with a minimum investment of just ₹10 lakh. This democratization of real estate investment is a key part of hBits’ vision, and the company’s AI technology plays a significant role in curating the best investment opportunities for its users.
Shiv Parekh, Founder and CEO of hBits, likened the platform's potential to the transformative impact mutual funds had on the stock market, describing it as a "mutual fund moment" for the real estate sector. He envisions that hBits’ SM REIT (Small Mutual Real Estate Investment Trust) offerings could become as ubiquitous as mutual funds within the next decade, providing a stable, high-performing, and transparent investment opportunity.
The funds raised will be used to fine-tune hBits’ platform, leveraging artificial intelligence to analyze market trends, evaluate property performance, and optimize returns for investors. By reducing risks and streamlining the investment process, hBits aims to offer a seamless experience that appeals to both seasoned investors and newcomers to the real estate market.
The company is on track to significantly increase its Assets Under Management (AUM), aiming to grow from ₹500 crore to ₹1,500 crore by the end of the next financial year. This ambitious goal will be supported by the launch of its SM REIT products, which allow investors to gain exposure to Grade-A commercial real estate across the country.
hBits has garnered attention for its innovative approach to real estate investment. Its AI-based platform not only evaluates market conditions but also identifies the best properties for investors, ensuring a more data-driven and informed approach to investing. This is a stark contrast to traditional real estate investment methods, which often rely on limited information and can be more challenging for individual investors to navigate.
hBits’ approach is in line with the growing trend of using technology to open up new investment avenues for a wider audience. By making commercial real estate accessible to individual investors, hBits is not only creating new opportunities but is also changing the way people perceive and invest in real estate, potentially transforming the landscape of property investments in India.
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