REstate, a real estate startup focused on land-owners and builders has secured an undisclosed amount in seed funding from Idein Ventures. The UAE-based VC and PE firm will also provide advisory support to the company.
REstate, a tech based Land bank was founded about a month ago, by private equity investors Rajeshwar Prasad, Ashwin Srivastava and Mahesh Vellaboyina. Ashok Vardhan, former Vice President of SBI, is also a part of the top management of the company.. The company has currently launched operations in Bengaluru and Hyderabad.
The real-estate firm uses data analysis and market research to decide the appropriate construction on any land associated with themselves. They then follow up the research by bringing together mid-sized financiers, builders and a slew of architects and designers to orchestrate the construction.
Ashwin Srivastava, co-founder REstate, said,”We help provide builders a national brand which they currently lack due to their local focus and presence, and we help Landowners get liquidity and fair value for their land. The timing is right for such an entity when UAE is moving aggressively in its investments in India.’
REstate is currently operational only offline and amidst finalizing multi-million dollar construction projects in Bengaluru. But, it plans to make a perfect synergy of online and offline services to execute it’s strategies. The company is also in the process of hiring personnel from local and global markets to oversee various domains.
Idein Ventures is working to bridge the investment gap between UAE and India. In realty sector Idein Ventures has previously invested in BuildTraders, a building material trading company, and Infurnia, a furniture personalisation company.