[ad_1]
The Ajmera group has already taken stakes in three startups and plans to To invest in seven others by the end of June 2019. Photo: iStockphoto
Bangalore: Ajmera Group, a Mumbai-based real estate developer, will invest up to 10 million dollars in technology startups, particularly in the field of fintech and software as a service (SaaS). An executive plan has already said it has taken stakes in three start-up companies and plans to invest in seven more by the end of June 2019.
"We are mainly in the US". real estate, but opportunities arise in the start-up. space and government vision, I think it's a great business opportunity. The future is definitely beautiful. This gives us the opportunity to enter a business sector that will grow organically, "said Dhaval Ajmera, Ajmera group director.
According to Ajmera, the Ajmera group will also consider the acquisition of such companies. Two years ago, she had supported BookMeIn, an online services market, in addition to investing in The Sports Gurukul, which runs sports programs in schools and colleges, and ModuleX, a startup in the development of A modular kitchen.
Ajmera, founded 50 years ago, has diversified over the years, including energy, steel and education. According to a report Business Standard Ajmera entered Bahrain and London in September with his first international project. The company also plans to develop residential projects in Rajkot, Bengaluru and Mumbai.
In September 2017, the Lodha Group entered into a partnership with the Mumbai-based Start-up India (ZSI) start-up incubator and launched Palava Accelerator. Lodha had originally invested about $ 7.8 million in real estate and smart cities.
In 2016, venture capital and private equity investments in Indian startups fell by nearly 24%, according to a joint report by KPMG and CB Insights. But the financing boom is back after the acquisition of Flipkart by the US retail giant, a 77% stake. The space in startups, which benefited from the resumption of funding, is expected to total more than $ 400 million by the end of this year, had said Mint in August.
Ajmera will likely face competition from investors such as SAIF Partners, Matrix India Partners and Sequoia Capital, in addition to his real estate counterparts such as Lodha.
Source link
