MicroMitti, an Indian Proptech firm, has raised ₹90 crore in a funding round backed by local high-net-worth individuals (HNIs), family offices, and business leaders in Indore. This funding includes ₹17.06 crore secured through a seed round for its holding firm to promote real estate investment vehicles such as REITs, AIFs, and PEs for wider accessibility. An additional ₹72.94 crore was raised for Special Purpose Vehicles (SPVs) focused on flagship real estate projects in Indore.
Expanding Internationally with MicroMitti Inc.
The company has launched MicroMitti Inc. in the United States to extend its Proptech solutions globally. This expansion aims to attract international investors and foster cross-border collaborations in real estate investments, replicating the firm’s successful Indian model.
Local Trust and Founder Commitment
MicroMitti’s ability to secure substantial funding from Indore’s business ecosystem underscores its credibility. Founder and CEO Manoj Dhanotiya demonstrated personal commitment by participating in the funding round. “This funding milestone reflects the trust of Indore’s business community. It will drive the growth of our AI-driven Proptech platform and support large-scale developments for long-term wealth creation,” Dhanotiya said.
Strategic Allocation of Funds
The ₹90 crore funding will be allocated as follows:
Enhanced Assets Under Management
Investor contributions in land have elevated MicroMitti’s AUM, projected to exceed a market value of ₹2,500 crore within three to five years. The firm’s developments aim to maximize returns through innovative and sustainable architecture.
Collaborations and Key Projects
MicroMitti collaborates with industry leaders such as JLL, architect Sanjay Puri, and leading law firms to ensure high standards in design, compliance, and execution. Key projects include:
These projects are expected to contribute significantly to the firm’s growth, with a targeted asset sale value exceeding ₹2,500 crore in the next 3-5 years.
Future Outlook
With a current valuation of ₹450 crore and a robust AUM, MicroMitti is set to transform real estate investments through its fractional ownership model and Proptech innovations. The firm remains focused on democratizing access to institutional-grade assets and creating sustainable value for investors.
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By Proptechbuzz
By Ravi Kumar
