Strata, a tech-enabled commercial real estate investment platform has raised $1.5 million seed funding led by SAIF Partners and Mayfield India with participation from real estate data analytics platform PropStack.
Currently operational in Bengaluru and Mumbai, the startup plans to use the funds raised to expand to other metro cities and strengthen its existing tech stack. It also hopes to double the team size to more than 45 employees with the majority of hiring expected in functions like technology and investor relations.
“As a brand, we are focused on bringing in transparency and a data-driven approach to investments in real estate. Aiming to touch Rs 250 crores of assets under management in this calendar year, we are creating India’s largest tech-enabled real-estate investment platform with our fractional investment model,” said Strata co-founder Sudarshan Lodha.
The strategic investment from PropStack will help them get exclusive commercial real estate (CRE) intelligence and analytics, Lodha added.
Incorporated in May 2019 by Lodha and Priyanka Rathore, Bengaluru-based Strata allows investors to own and sell fractions of pre-leased commercial properties such as office spaces and warehouses among others. It claims to currently have 1,500 users and 150 active investors on its platform.
“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” said Subeer Monga, Principal, Mayfield India.