India based unique space-as-a -service startup-MPowered has landed a $21M pre-Series A round for its platform, that allows large real-estate owners transform their assets into profitable spaces. The company does that by converting these vacant investments into co-living or co-working spaces.
The investment came from real estate gurus Ashok Nichani and Shelly Nichani, along with some other U.S. based HNIs (High Net Worth Individuals), who contributed to the completion of this massive pre Series A funding round.
MPowered is a space as a service platform, a fairly untapped sector, for capital investors that helps transform your real estate into profit generating centers. Large scale real-estate assets, which are generally bought for investment purposes, often lie vacant generating no short term value. MPowered aims to tap that, and help owners of such assets convert these empty spaces into profit-generating centers.
The company deals with different kinds of projects, including but not limited to commercial spaces, helping “transform your commercial real estate into agile well-equipped workspaces by managing your offices and services while you focus on the business goals.” MPowered builds the commercial space and manages it as well, with profitable returns delivered to the property owner on a periodic basis.
It also helps design and even run your perfect residential space, making it a true reflection of your persona, with the perfect mix of aesthetics and functionality. That’s not all, as the company operates with hospitality spaces, retail spaces, warehousing spaces and educational institutes as well, to make sure that you have the perfect project that resonates with you. After all, it is your land.
With fresh money in the bank, MPowered wants to “take on new verticals of real estate such as warehousing, residential and commercial spaces,” along with developing tech solutions that “will enable ease-of-use in day-to-day real estate transactions and management.” In short, MPowered just got empowered to the teeth, and will now take on the brutal market of real estate, with an attempt to revolutionise it.
Speaking of this, MPowered Founder & CEO, Sudeep Singh said, “This fundraise will be a great head-start to MPowered’s journey as India’s most futuristic Asset-Management firm that converges deep-rooted understanding of Indian real estate and thorough knowledge of global real estate concepts from countries including USA, Canada, Germany, Poland and the UK among others. ”
Commercial real-estate in the pre-COVID 19 era was a heated space, specially in India. WeWork for example, has been betting big on India, partnering with some of the biggest real-estate developers to convert spaces into offices. Smaller startups, largely in the co-working space. have also been steadily gaining prominence, following a similar model. With COVID however, real-estate and construction is among the worst-hit sectors with many predicting a crash in pricing like never seen before. At such a time, MPowered’s services make even more sense, helping asset owners generate some value out of an investment, that may not necessarily bear the fruits they had earlier projected.