MPowered raises USD 21mn from US-based HNIs

Gurugram-based MPowered offers a 'space-as-a-service' platform that helps real estate owners turn their property into revenue-generating assets.

Asset management firm MPowered on Monday said it has raised USD 21 million (about Rs 157 crore) in a pre-series A round from a group of US-based high net worth individuals (HNIs). The round is led by serial entrepreneurs and real estate bigwigs Ashok Nichani and Shelly Nichani, the statement said. "The funding will be used by the firm to take on new verticals of real estate such as warehousing, residential and commercial spaces. A portion of the funding amount will also be used to develop tech-solutions that will enable ease-of-use in day-to-day real estate transactions and management," it added

MPowered founder and CEO Sudeep Singh said the fundraise will provide a headstart to MPowered's journey as India's most futuristic asset management firm

"We are extremely thrilled to be backed and advised by stalwarts like Ashok and Shelly who come with rock-solid expertise in real estate at a global level. Their prowess in real estate will be paramount in MPowered's journey ahead," he added. Gurugram-based MPowered offers a 'space-as-a-service' platform that helps real estate owners turn their property into revenue-generating assets. It offers products like 'Mpowered', 'Powered by M', and 'MGage'.