Proptech

hBits Raises ₹40 Crore in Series A Funding from Thackersey Group Entity

• ByStartupStory     |    January 9, 2025

Mumbai-based hBits, a leading platform for investing in commercial real estate, has secured ₹40 crore in a Series A funding round led by Capricon Realty Private Limited, an entity of the Thackersey Group. The funding will fuel the company’s plans to enhance its AI-driven technology platform, expand its geographic footprint, and bring curated, high-value investment opportunities to a larger audience.

Founded in 2018 by Shiv Parekh, hBits enables investors to participate in high-yield commercial properties with investments starting at ₹10 lakh. The platform offers rental yields of up to 10% and projected Internal Rates of Return (IRR) of up to 18%, making it an attractive avenue for both new and seasoned investors.

Speaking on the funding, Shiv Parekh, Founder and CEO of hBits, said,
“This is the mutual fund moment for the real estate industry. Just as mutual funds democratized stock market investing, SM REITs have the potential to make Grade-A commercial real estate accessible to everyone. We believe SM REITs could become as large as mutual funds in the next 10 years, offering investors a stable, high-performing, and transparent way to build wealth.”

He further added,
“Partnering with the Thackersey Group is a remarkable milestone for us. Their 150-year-old legacy of building enduring businesses and their strategic insights will be invaluable as we scale. Combining their expertise with our AI-driven platform and passionate team, we aim to create a sustainable, long-term enterprise that transforms real estate investment in India.”

The Thackersey Group, with a legacy spanning over 150 years, has played a pivotal role in shaping industries and communities. Expressing enthusiasm about the partnership, Raoul Thackersey of the Thackersey Group stated,
“We always believed in forward-thinking investments that shape industries and communities. We are proud to partner with Shiv and the visionary team at hBits in their mission to redefine real estate investments in India. The SM REIT framework has the potential to democratize access to Grade-A commercial real estate for investors across the country. With our legacy of over 150 years, we understand the importance of building enduring businesses, and we’re excited to support hBits in creating a lasting impact in the real estate sector.”

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