ANAROCK secures Rs 200 crore funding from 360 One Asset
- ByStartupStory | February 5, 2024
Anarock, a prominent real estate consultancy, has secured Rs 200 crore in funding from 360 ONE Asset Management Ltd, formerly known as IIFL Asset Management. As a leading alternate asset manager in India and part of the 360 ONE group, which oversees assets worth over $54 billion, 360 ONE Asset Management is Anarock’s first equity investor. The funding is earmarked for advancing Anarock’s technology infrastructure, supporting expansion, and introducing innovations to bolster its leadership in India’s real estate services sector.
Anuj Puri, Chairman of Anarock, expressed enthusiasm about the partnership with 360 ONE Asset, stating, “We are thrilled to have 360 ONE Asset as our first equity investor. This investment will significantly contribute to keeping Anarock at the forefront of the industry by fuelling further innovation and growth.”
Emphasizing the opportune timing for expansion, Puri highlighted the expected growth of the Indian real estate sector, projecting a contribution of 10-13% to India’s GDP by 2025. Currently accounting for 7% of the GDP, the sector’s potential market value is anticipated to exceed $1 trillion by 2030. Anarock plans to lead the market with upgraded artificial intelligence and machine learning technologies to accelerate residential inventory sales for developer clients.
Sameer Nath, Chief Investment Officer and Head of Venture Capital & Private Equity at 360 ONE Asset, expressed delight in being Anarock’s first equity investor. Nath stated, “In Anarock, we see a top-class management team, premier marketing and advisory capabilities, and a clear leader in India’s large and growing real estate services sector. We have also been impressed by the tech infrastructure and innovative platforms being built by the company.”
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