Proptech Startup TruBoard Secures Investment from HDFC Capital to Fuel Expansion

TruBoard, a Mumbai-based proptech startup, has raised funds from HDFC Capital to expand its presence in international markets, focusing on residential, commercial real estate, warehouse, and data centers.

ProptechReal EstateHdfc CapitalStartupInvestmentReal Estate MumbaiJul 03, 2024

Proptech Startup TruBoard Secures Investment from HDFC Capital to Fuel Expansion

Real Estate Mumbai:In a significant development, private equity firm HDFC Capital has acquired an 8.5% stake in TruBoard, a Mumbai-based proptech startup, for an undisclosed amount. The investment was made via H@ART (Housing and Affordable Real Estate and Technology), HDFC Capital's tech platform. This fresh capital infusion will enable TruBoard to fuel its expansion into international markets, with a focus on residential, commercial real estate, warehouse, and data centers.

Founded in 2020 by Nandkumar Surti, Srickant Rajagopal, and Thakore, TruBoard offers multiple AI-driven platforms to provide insights for asset management of real estate projects. The startup's platforms include TruGenie for asset management of under-construction real estate projects, TruGreen for asset management of renewable energy projects, and TruCollect for collection management of retail loan portfolios.

TruBoard claims to have $1.8 billion assets under management (AUM), 1 GW renewable energy assets, 700 kms of road assets, among other real estate assets under its management. The startup's innovative approach to real estate management has attracted significant attention from investors, and this investment from HDFC Capital is a testament to its growth potential.

HDFC Capital, set up in 2016, is the investment manager to four SEBI-registered Category II Alternative Investment Funds (AIFs) with a combined net worth exceeding $3 billion. The PE firm has backed several proptech startups, including Provident Housing, Loyalie, HomeExchange, and Monsoon CreditTech, under its H@ART initiative.

This investment in TruBoard is a significant step forward for the proptech startup, which is poised to revolutionize the real estate sector with its cutting-edge technology and innovative approach. With HDFC Capital's support, TruBoard is well-positioned to accelerate its growth and expand its footprint in international markets.

Information
HDFC Capital is a private equity firm that focuses on investing in real estate and technology startups. The firm was set up in 2016 and has a net worth exceeding $3 billion. HDFC Capital is the investment manager to four SEBI-registered Category II Alternative Investment Funds (AIFs).

TruBoard is a Mumbai-based proptech startup that offers AI-driven platforms for asset management of real estate projects. HDFC Capital is a private equity firm that focuses on investing in real estate and technology startups.

Frequently Asked Questions

What is the stake acquired by HDFC Capital in TruBoard?

HDFC Capital has acquired an 8.5% stake in TruBoard.

What is the purpose of the investment in TruBoard?

The investment will enable TruBoard to expand its presence in international markets, focusing on residential, commercial real estate, warehouse, and data centers.

What is TruBoard's asset management portfolio?

TruBoard claims to have $1.8 billion assets under management (AUM), 1 GW renewable energy assets, 700 kms of road assets, among other real estate assets under its management.

What is HDFC Capital's investment focus?

HDFC Capital focuses on investing in real estate and technology startups through its H@ART initiative.

What is TruBoard's unique value proposition?

TruBoard offers multiple AI-driven platforms to provide insights for asset management of real estate projects, making it a unique player in the proptech space.