Ashish-Deora-Indian-Entrepreneur

26 May, 2022

Aurum PropTech buys Goldman Sachs-backed co’s arm HelloWorld, CareerSocially

Aurum PropTech NSE 0.61 % Ltd, formerly known as Majesco Ltd NSE 0.61 %, as part of its continued inorganic growth strategy, has acquired Goldman Sachs-backed Nestaway’s co-living subsidiary HelloWorld Technologies India NSE -2.44 % and real estate data analytics company CareerSocially for total over Rs 61 crore.

The two 100% buyouts have taken the company’s acquisition tally to six totalling over Rs 233 crores investment made by the company over the last one year after being acquired by Aurum Ventures in June 2021.

On Wednesday, the company concluded raising over Rs 343 crore through its rights issue. Aurum PropTech is planning to invest over Rs 550 crore to build technology and expand operations of these six companies further. Part of these cash and cash equivalents will also be utilised for more acquisitions and development of products and services by its team.

“With our string of pearls acquisition strategy, we are developing end-to-end solutions focussed on the real estate sector. We now have many vital parts of the ecosystem already in place. Over the next 18-36 months, we will invest capital in building and buying more products and services to build a robust integrated ecosystem,” Ashish Deora, Founder and CEO of Aurum Ventures, told ET.

According to him, the entire property technology segment is about to witness an explosion in terms of investment and usage in India and globally.

Prior to this, Aurum PropTech had approved acquisition of 53% equity stake in another co-living company Grexter Housing Solutions for Rs 27 crore. It has also acquired control of SaaS based technology firms K2V2 Technologies Private Limited that operates Sell.do and Monk Tech Labs that owns technology platform TheHouseMonk. In addition to these, it has also invested in asset management company Integrow Asset Management.

The company has paid consideration of Rs 38 crore for the acquisition of HelloWorld, which is one of the largest co-living companies in India that provides rental solutions for owners and tenants. It has presence in 16 cities across the country with a 100 plus people team engaged in the co-living business targeted at working professionals and students.

CareerSocially founded by three data scientists, Prakash Tejwani, Sahil Rathore and Vishal Sharma is a data analytics company focussed on the real estate sector and harnesses the power of data science, machine learning and artificial intelligence. It has built a robust data analytics practice with SaaS based products and services for the real estate sector which amplifies the effect of Aurum’s existing products, BeyondWalls broker aggregation platform and Sell.Do CRM.

Since the acquisition of Aurum PropTech by Aurum Ventures in June 2021, it has acquired control of SaaS based technology firms K2V2 Technologies Private Limited (Sell.do) and Monk Tech Labs (TheHouseMonk). It has also invested in Integrow Asset Management Pvt. Ltd, an asset management company.

In February, Aurum PropTech approved acquisition of 53% equity stake in Bangalore-based co-living company Grexter Housing Solutions for Rs 27 crore.

Reference Links:
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/aurum-proptech-buys-goldman-sachs-backed-cos-arm-helloworld-careersocially/articleshow/91817318.cms?from=mdr

https://www.linkedin.com/feed/update/urn:li:activity:6935922836683268096




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