Proptech startup firm Strata, which promotes fractional ownership of commercial real estate, has raised $6 million from investors comprising Kotak Investment Advisors to develop its business and advance its assets under management. Strata told the media that it raised $6 million in a Series A funding round. This round of funding was co-led by Kotak Investment Advisors, Gruhas Proptech (an exclusive fund by Abhijith Pai of Puzzolana Group and Nikhil Kamath of Zerodha for proptech investments and special situations), Sabre Investments (an investment unit of Rahul Talwar, promoter family of DLF). Additionally, Mayfield India, Gemba Capital and Elevation Capital joined the funding round. In March 2020, the firm had raised $1.5 million in seed funding co-led by Mayfield India and Elevation Capital along with participation from PropStack angel investors. Strata told the media that the firm will use this capital to grow aggressively in the following year, taking its current Asset under Management (AUM) of about Rs 330 crore to Rs 1,500 crore by FY21-22. The company aims to expand its geographical footprint over key markets of Hyderabad, Delhi, Pune, Mumbai, Chennai and Bengaluru. It also intends to stimulate product development and introduce new investment offerings to generate greater returns for its investors in the long term. Strata said that the firm is also striving to double its headcount in the current fiscal year. It is eyeing fresh recruits for the position of tech and product managers, investment managers and asset managers. Strata, incorporated in May 2019 and established by Sudarshan Lodha and Priyanka Rathore, strives to be the largest alternative investment platform in India for retail investors by allowing them to invest in commercial real estate (CRE) assets, by fractionalizing assets and giving it on an easy-to-use online platform. Sudarshan Lodha, CEO, Strata, told the media that their goal is to democratise CRE like an asset class like never before in India. This fresh round of financing comes at a crucial point in their business, enabling them to expedite their expansion plans and build and innovate their product portfolio as they gear up for their next stage of growth. Strata is a tech enabled CRE investment platform that enables investors to have and trade units of pre-leased, Grade-A commercial properties like warehouses, office spaces and industrial assets. Image Source Also read: Telangana plans to raise Rs 3,000 cr via layout regularisation scheme