Proptech firm MicroMitti raises Rs 90 Cr
The capital will be used to expand the company's proptech platform, with a focus on AI-driven analytics and automation, and support large-scale real estate development.
MicroMitti, a proptech firm, has raised Rs 90 crore in a funding round from prominent local HNIs, family offices, and influential business leaders from Indore.
The round includes Rs 17.06 crore through a seed round for MicroMitti holding firm that promotes real estate investment vehicles such as SM REIT, AIF and PE for the common man, and Rs 72.94 crore strategically secured for MicroMitti SPV’s (special purpose vehicle) doing iconic projects in Indore with leading architect Sanjay Puri, the company said in a statement.
The fund of Rs 17.06 crore will be used to advance MicroMitti’s proptech platform, with a focus on AI-driven analytics, automation for seamless real estate investments, and enhanced user experiences. A significant portion will also be dedicated to expanding the firm’s presence across Tier II and III cities in India.
The Rs 72.94 crore raised through the SVP will be directed towards expanding MicroMitti’s real estate portfolio, with a focus on high-return properties and large-scale developments, the company said.
Land contributions by investors have increased the firm’s assets under management, which are now valued at Rs 700 crore based on land market valuations, it added.
Founded in 2023, MicroMitti seeks to empower investors to create long-term wealth through real estate-backed investments, thus democratising access to high-quality, institutional-grade assets.
“This funding marks a significant milestone for MicroMitti and highlights the trust and confidence of Indore’s business community in our vision," said Manoj Dhanotiya, Founder and CEO, MicroMitti.
"The capital raised will fuel the expansion of our proptech platform, with a focus on AI-driven analytics and automation, while also supporting large-scale real estate developments aimed at generating long-term wealth," he added.
MicroMitti has launched its US subsidiary, MicroMitti Inc., with a global vision to redefine real estate investments beyond India. This expansion seeks to attract international investors and foster cross-border collaboration in innovative property ventures. The US entity will prioritise building strategic alliances and replicating MicroMitti’s proptech model in major global markets.
Edited by Swetha Kannan