SAIF Partners-backed real estate investment platform Strata has raised INR 140 Cr from investors to jointly buy three pre leased warehouses, which collectively accounts for 700K Mn sq ft warehousing space.
The proptech startup highlighted that the asset is expected to offer investors an average rental yield anywhere between 9.5% and 10% year-on-year (YoY), which is higher than other investment opportunities like mutual funds, fixed deposits and equity markets. “The consortium listed by the company offers investment opportunity assets that an investor can avail via the fractional ownership model,” Strata said, in a press note.
The latest asset listing of the firm witnessed participation from a diversified set of more than 500 investors across high networth individuals (HNIs), family offices, top management from large companies, retail and institutional among others. Besides, the assets also secured traction from the non-resident Indian community and from investors across Tier-II towns.
Incorporated in May 2019, Strata was founded by Sudharshan Lodha and Priyanka Rathore. It is a tech-enabled platform that simplifies real estate investments, by allowing investors to invest in properties and plots without spending large sums of money. So far, the company has 1500 users and 150 active investors on its platform.
Strata believes the lack of relevant experience, unavailability of right data sets and insufficient capital has made investment in real estate much more difficult. Therefore, the tech-enabled platform has been helping the investors by catering to their needs of “expertise” and “liquidity”. The company aims to bring INR 250 Cr assets under management (AUM) by the end of 2020.
Strata’s founder Lodha believes 30% growth in warehousing facilities in the backdrop of global supply chains diverting from China to India amid the pandemic. The company also highlighted that the companies are looking for higher inventory levels because of greater penetration of ecommerce and faster shift to third-party logistics, along with the change in supply chain preference.
Commenting on the same, Strata’s founder Sudharshan Lodha 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.”
Strata also noted that one of the warehouses Strata Avigna Warehousing I and II located in Hosur received 100% commitment from investors within 42 days to its launch. Meanwhile, the pharmaceutical warehousing asset in Bengaluru was closed in just 7 days.
Earlier this year, the company had raised $1.5 Mn funding in a seed round led by SAIF Partners and Mayfield India. Real estate data analytics platform PropStack and three angel investors have also participated in the round.