A Bengaluru-based tech startup, Strata (1) raised 140 crore INR from investors to acquire three pre-leased warehouses amidst the COVID-19. The order of assets collectively computed for a total of 0.7 million sq ft of warehousing space.
Strata were founded and established by Sudarshan Lodha and Priyanka Rathore in May 2019 as a real-estate investment tech startup. It allows investors to own and sell fractions of pre-leased, grade A commercial properties like warehouses, office spaces, etc. It also has marquee investors SAIF Partners, Mayfield Ventures, and PropStack as sponsors.
The Strata Avigna Warehousing I & II, situated in Hosur, received a 100 percent commitment from investors within just 42 das of its launch. But the pharma warehousing asset in Bengaluru was closed within only seven days.
The recent asset listing witnessed participation from a diversified set of more than 500 investors. Investors were from family offices, retail, NHIs, top management from Fortune 500 companies, and institutional ones. The assets also secured grip from the NRI community and investors across Tier-II towns.
More on Strata for Funds and Future Growth
Sudarshan Lodha, the co-founder of Strata, said that they have successfully raised funds for the investment opportunities even in challenging times. It reflects the pent-up demand and high resilience of the investors’ sector and confidence in their business model.
He further added that the startup foresees an approximate 30 percent growth in warehousing facilities in the years ahead. As the global supply chains diversify away from China to India, a faster shift to 3PL is rising. Also, greater penetration of e-commerce, and companies eyeing higher inventory levels.
Abhijit Verma, CEO, Avigna Space Industrial & Logistic Park, said that they are super excited about Strata’s association. Their consortium brings the best of both worlds. It is an unexplored investment opportunity in the warehousing sponsored by a robust technology platform that presents a one-of-a-kind investment.
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She’s currently working as a content writer and is always interested in a challenge.
Source: https://timesnext.com/tech-startup-strata-raised-fundings-of-inr-140-crore/
