hBits, a premier platform for investing in commercial real estate, has raised Rs 40 crore in its Series A funding round from Capricon Realty Private Limited, an entity of Thackersey Group.
The funds will be used to enhance hBits’ AI-driven technology platform, expand its geographical presence, and bring curated, high-value investment opportunities to a wider audience.
Founded in 2018 by Shiv Parekh and based in Mumbai, hBits provides investors with investment opportunities in high-yield commercial properties starting at Rs 10 lakh. Offering rental yields of up to 10% and projected Internal Rates of Return (IRR) of up to 18%, hBits offers attractive options for both novice and experienced investors.
“This is the mutual fund moment for the real estate industry. Just as mutual funds democratized stock market investing, SM REITs have the potential to make Grade-A commercial real estate accessible to everyone. We believe SM REITs could become as large as mutual funds in the next 10 years, offering investors a stable, high-performing, and transparent way to build wealth,” said Shiv Parekh, Founder and CEO of hBits.
“Partnering with the Thackersey Group is a remarkable milestone for us. Their 150-year-old legacy of building enduring businesses and their strategic insights will be invaluable as we scale. Combining their expertise with our AI-driven platform and passionate team, we aim to create a sustainable, long-term enterprise that transforms real estate investment in India,” he added.
“We always believed in forward-thinking investments that shape industries and communities. We are proud to partner with Shiv and the visionary team at hBits in their mission to redefine real estate investments in India. The SM REIT framework has the potential to democratize access to Grade-A commercial real estate for investors across the country. With our legacy of over 150 years, we understand the importance of building enduring businesses, and we’re excited to support hBits in creating a lasting impact in the real estate sector,” added Raoul Thackersey of the Thackersey Group.
