Other Private Equity/Strategic Investments
Proptech startup hBits raises Rs.40-Cr from Capricon Realty
Mumbai-based fractional real estate ownership platform hBits has raised INR 40 crore in Series A funding round from Capricon Realty Pvt Ltd , an entity of the Thackersey Group.Founded by Shiv Parekh and Samir Bhandari, hBits enables investors to access high-yield, Grade-A commercial properties with an entry ticket as low as INR 10 lakh. It aims to capitalize on SEBI’s newly introduced Small and Medium Real Estate Investment Trust (SM REIT) regulations to help individual and institutional investors access Grade-A commercial real estate.
In Sep 2022, hBits had raised about USD 2 M from Snow Leopard Technology Ventures, Incred Capital and angel investors including IIFL chairman Nirmal Jain, Jungle Ventures’ former managing partner Jayesh Parekh and Nomura Services’ former managing director Awdhesh Krishna.For FY24, hBits had reported about INR 7 Cr in Operating Income and about INR 6 Cr in Net loss.
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