hBits Revolutionizes Real Estate Investment with Rs 40 Crore Funding

hBits, a platform for fractional ownership of commercial real estate, has raised Rs 40 crore in Series A funding from Capricon Realty, part of the Thackersey Group. The funds will enhance its AI technology platform and expand its reach, democratizing access to quality real estate investments.

hBits, a pioneering platform in fractional ownership of commercial real estate, has successfully secured Rs 40 crore from Capricon Realty Private Ltd, a Thackersey Group entity, in its Series A funding round. The announcement was made on Wednesday.

According to hBits, the procured funds are aimed at enhancing its AI-driven technology platform, expanding territorial presence, and providing high-value investment opportunities to a broader audience. The Thackersey Group boasts a legacy of 150 years, significantly contributing to Mumbai's business and cultural sectors.

Raoul Thackersey emphasized the group's commitment to progressive investments, highlighting the potential of SM REITs to democratize Grade-A commercial real estate ownership nationwide. hBits founder, Shiv Parekh, likens this innovation to mutual funds in stock markets, aiming to triple assets under management by the next fiscal year.

(With inputs from agencies.)