[Funding alert] Real-estate investment tech startup Strata raises Rs 140 crore
Bengaluru-based Strata raised Rs 140 crore from investors to acquire three pre-leased warehouses amidst the COVID-19 pandemic. The consortium of assets collectively computed for a total of 0.7 million sq ft of warehousing space.
The Strata Avigna Warehousing I & II — situated in Hosur — received 100 percent commitment from investors within just 42 days of its launch, while the pharma warehousing asset in Bengaluru was closed within just seven days.
In a statement, the startup claimed that the assets are expected to offer investors an average rental yield anywhere between 9.5 and 10 percent Y-o-Y.
Sudarshan Lodha, Co-founder of Strata, said,
“We have successfully raised funds for our investment opportunities even in such challenging times, which clearly reflects the pent-up demand and high resilience of the sector and the confidence of our investors in our business model. With global supply chains diversifying away from China to India, greater penetration of ecommerce, faster shift to 3PL, and companies eyeing higher inventory levels, we foresee an approximate 30 percent growth in warehousing facilities in the coming years.”
The latest asset listing witnessed participation from a diversified set of more than 500 investors across HNIs, family offices, top management from Fortune 500 companies, retail, and institutional, among others. Besides, the assets also secured traction from the NRI community and from investors across Tier-II towns.
“We are very excited about our association with Strata. Our consortium brings the best of both the worlds — an unexplored investment opportunity in warehousing backed by a robust technology platform that presents a one-of-a-kind investment opportunity,” added Abhijit Verma, CEO, Avigna Space Industrial & Logistics Park.
Founded by Sudarshan Lodha and Priyanka Rathore in May 2019, real-estate investment tech startup Strata allows investors to own and sell fractions of pre-leased, grade-A commercial properties such as office spaces, warehouses, etc.
It is backed by marquee investors SAIF Partners, Mayfield Ventures, and PropStack.
Edited by Saheli Sen Gupta