Asset management solutions company, MPowered, raises $21 million in a pre-series A round, from a group of US-based HNIs investors; led by serial entrepreneurs Ashok and Shelly Nichani. The Gurgaon-based firm will use the funds to invest in real estate vertical such as warehousing, residential and commercial spaces and also develop tech-solutions.

MPowered is a 'space-as-a-service' platform that helps landlords turn their property into revenue-generating assets. The company also has a brand called 'Powered by M', which is managed real

estate, either as co-working or co-living spaces, while 'MGage' is a tool that is meant to manage work spaces efficiently. "Asset management companies only focus on Grade A assets. We plan to help bring Grade B and Grade C assets to the A grade level in terms of look and feel, fire safety etc," said Sudeep Singh, Founder & CEO, MPowered. He said the Covid-19 pandemic is an opportunity for new businesses and business models.

"This fundraise will be a great head start to our firm's journey as India's most futuristic asset-management firm that converges deep-rooted understanding of Indian real estate and thorough knowledge of global real estate concepts from around the world," said Sudeep Singh, Founder & CEO, MPowered.

Earlier this year, GoWork Ex-CEO, Singh launched MPowered to help property owners convert their real estate liabilities into income-generating assets.

"Our vision is to power real estate with technology every step of the way, with the latter being at the front and center of our concepts and operations," Bhavna Juneja, Co-Founder, MPowered said.