Online real estate investment startup Strata said that it has raised $1.5 million in a seed round led by SAIF Partners and Mayfield India. In addition, real estate data analytics platform, PropStack and three other prominent angel investors with commercial real estate backgrounds have participated in the round.
Currently operational in Bangalore and Mumbai, Strata is hoping to double its team size this year to over 45 members, with a majority of hiring in roles related to technology and investor relations. With 1500 users and 150 active investors on the platform, the company plans to utilize the fresh raise to expand to other metro cities and strengthen their current tech stack.
“As a brand, we are focused on bringing in transparency and a data-driven approach to investments in real estate. Aiming to touch 250 Crores of AUM in this calendar year, we are creating India’s largest tech-enabled real-estate investment platform with our fractional investment model,” said Sudarshan Lodha, Co-Founder, Strata.
“Partnering with SAIF Partners and Mayfield adds a lot of credibility to our business model and we are happy to get an opportunity to leverage from their experience in disrupting the proptech business in India. 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,” Lodha added.
“We are thrilled to partner with Strata which is delivering outstanding innovation and results in the proptech 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,” said Srinivas Bhaskar, Vice President, SAIF Partners.