Mumbai-based fractional ownership startup hBits has raised ₹40 crore (approximately $4.6 million) in its Series A funding round, led by Capricon Realty, a division of the Thackersey Group.
The funds will be directed towards expanding hBits’ AI-driven technology platform, extending its geographical reach, and making curated commercial real estate investments accessible to a broader audience.
Founded in 2018 by Shiv Parekh and Samir Bhandari, hBits allows individuals to invest in commercial properties with a minimum investment of ₹10 lakh.
The platform leverages artificial intelligence to analyze market trends, evaluate property performance, and identify investment opportunities. This technology-driven model aims to minimize risk and maximize returns while offering a streamlined experience for both novice and experienced investors.
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“Our collaboration with Thackersey Group will combine their expertise with our AI-driven platform to build a sustainable, long-term enterprise that transforms real estate investment in India,” said Shiv Parekh, Founder and CEO of hBits.
The startup also intends to leverage the recently introduced Small and Medium Real Estate Investment Trust (SM REIT) framework by the Securities and Exchange Board of India (SEBI), further expanding its foothold in the commercial real estate market.
In 2022, hBits raised ₹20 crore in a strategic funding round. The round saw participation from prominent investors, including Nirmal Jain (Chairman, IIFL), Incred Capital, former Jungle Ventures executive Jayesh Parekh, and senior Nomura Services executive Awdhesh Krishna.
