The Thackersey Group company Capricon Realty Private Limited led a Rs. 40 crore Series A funding round for hBits, a platform for investing in commercial real estate.

The Shree Naman Group and other investors had previously contributed $3.32 million to the Mumbai-based business.

According to a press release from hBits, the money will be utilized to improve its AI-driven technology platform, increase its geographic reach, and provide screened, high-value investment opportunities to a larger audience.

Samir Bhandari and Shiv Parekh Co-founded hBits with the goal of empowering commercial real estate investment in India. With an entry ticket as low as Rs. 10 lakhs, investors can access high-yield, Grade-A commercial properties through the platform.

It provides a special blend of stability and growth, appealing to both novice and seasoned investors, with an average rental yield of up to 10% and an expected Internal Rate of Return (IRR) of up to 18%.

As per hBits, it employs cutting-edge artificial intelligence technology to assess property performance, examine market trends, and pinpoint the optimal investment prospects for its clientele. This data-driven strategy minimizes risk, maximizes returns, and gives investors a smooth investing experience.

By providing a regulated framework akin to mutual funds, the introduction of SM REITs will further improve this model and make investments in commercial real estate smooth and organized.

According to hBits, its goal is to leverage the recently implemented Small and Medium Real Estate Investment Trust (SM REIT) regulations by SEBI to transform individual and institutional investor’s access to Grade-A commercial real estate.