REstate, a first-of-a-kind 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 technology enabled Landbank was founded about a month ago, by seasoned private equity investors, including a couple promoters of Idein Ventures. The company has currently launched operations in Bengaluru and Hyderabad.
The top management of REstate also includes the ex-VP of State Bank of India, Ashok Vardhan. Ashwin Srivastava, a promoter of Idein Ventures will also be joining the management board. He will be responsible for advising and monitoring the strategies of the company.
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 financers, builders and a slew of architects and designers to orchestrate the construction.
The same data and research also helps the company bring buyers on-board prior to the completion of construction. And UAE’s royalty funded Idein Ventures also helps REstate create proper branding and trust for landowners, builders and buyers.
Ashwin Srivastava, a promoter of Idein Ventures adds that,
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. The VC firm has recently invested $160k in Qriyo, an online fitness and co-curricular learning courses provider.