hBits Secures Rs 40 Crore in Series A Funding
hBits, a leading platform for investing in commercial real estate, has successfully raised Rs 40 crore in a Series A funding round from Capricon Realty Private Limited, affiliated with the Thackersey Group. The Mumbai-based company had earlier secured $3.32 million from the Shree Naman Group and other investors.
Purpose of the Funding
The newly acquired funds are aimed at:
- Enhancing the artificial intelligence-driven technology platform.
- Expanding geographical reach.
- Providing curated, high-value investment opportunities to a broader audience.
hBits disclosed this information through a press release.
About hBits
Founded by Shiv Parekh and Samir Bhandari, hBits is dedicated to empowering commercial real estate investment across India. The platform allows investors to access high-yield, Grade-A commercial properties with an initial investment as low as Rs 10 lakhs. With an average rental yield of up to 10% and an anticipated Internal Rate of Return (IRR) of up to 18%, hBits presents a compelling opportunity for both novice and experienced investors.
Innovative Investment Approach
According to hBits, the company utilises sophisticated AI technology to:
- Analyse market trends.
- Evaluate property performance.
- Identify optimal investment opportunities for users.
This data-driven methodology aims to mitigate risks, maximise returns, and deliver a smooth experience for investors. The advent of Small and Medium Real Estate Investment Trusts (SM REITs) will further refine this model, offering a regulated framework that resembles mutual funds, making commercial real estate investments straightforward and structured.
Future Plans and Growth Projections
hBits intends to leverage the Securities and Exchange Board of India’s (SEBI) recently unveiled Small and Medium Real Estate Investment Trust (SM REIT) regulations to transform access to Grade-A commercial real estate for both individual and institutional investors. The company aims to triple its Assets Under Management (AUM) from Rs 500 crore to Rs 1,500 crore by the conclusion of the next financial year, propelled by the introduction of its SM REIT offerings. These offerings will present investors with regulated, diversified, and high-performing choices across major commercial real estate hubs in India.