According to a key company official, Airattix, a public storage incubator for both retail and industrial renting, is seeking external investors for a pre-series round of funding of over $1 million (around INR 7.6 crore).

Airattix, which is promoted by Imperial Logistics, a Pune-based supply chain company, promises to be the first and only marketplace for public storage where consumers may post and rent out their empty storage spaces/rooms, and parking spaces. Customers can reserve them on a monthly, quarterly, or annual basis, as well as for an extended period of time.

According to Kale, "Many commercial property owners and public storage facility players have also joined the platform, including Your Space Doctor in Mumbai, Storemore in Noida, Safe Storage in Bengaluru, Dorabajee & Sons in Pune, and Abhiruchi Mall in Pune, among others, bringing the total area listed to around 1 million sq ft."

Kale, a naval engineer-turned-entrepreneur, said he plans to raise $1 million from outside investors and is willing to give up 15-20% of his stake in exchange. He's already reached out to a few domestic venture capital funds, and he'll shortly be speaking with some international players as well.

Despite the fact that Airattix.com was created in 2018, it only became live during the peak of the lockdowns, gaining a lot of popularity right away.

On the income strategy, he said, "It charges a service charge of 10% of the agreed-upon rent, and the parking facility also charges a premium for upkeep and maintenance."

The company is valued at INR 20 crore, with a gross merchandise value of INR 5 crore, and is expected to finish this fiscal year.

He said, "Though around 1 million sq ft of space is listed on its platform, only around 500 tenants are live."

Imperial Logistics, his parent firm, was founded in 2012 and owns and maintains approximately 1 million square feet of warehouse and storage space in major cities. Automotive, FMCG, industrial, pharma, and food are the five industry verticals covered.

Imperial also administers online orders for Amazon, Flipkart, Shopify, Meesho, and Myntra, among others, and specialises in delivering e-commerce order fulfilment solutions.