HDFC Capital acquires 8.5% stake in TruBoard Technologies

HDFC Capital Advisors has acquired an 8.5% stake in Truboard Technologies. TruBoard has developed a technology platform called TruGenie that manages real-estate assets with the aim to address investor, asset owner, and developer needs. TruGenie is being used by some of the top Private Banks and Real Estate funds.

“We believe that technology solutions will play a critical role in real estate development and asset management,” says Vipul Roongta, managing director and CEO, HDFC Capital. “Our investment in TruBoard is part of the H@ART initiative that has been set up to invest and partner in technology companies, which bring efficiencies in the real estate ecosystem.”

Vipul Thakore, Co-founder of TruBoard, added, “We are very proud of what we have achieved and the dedication of our awesome team. We always believed in our vision and the value proposition it brings to the industry; this strategic investment of HDFC Capital has vindicated the same. We stand better now at scaling up quickly and innovating faster, making a much more far-reaching impact and, of course, striving for excellence and innovation.

According to Nilesh Shah, MD, Kotak Mutual Fund, and an early-stage investor in TruBoard, “TruBoard’s cutting edge tech led monitoring platform, TruGenie, is fast changing real estate management. It brings AI, IoT and big data analytics in a single sweep to deliver real-time insight and enhanced decision making amongst capital providers, developers and customers. HDFC Capital’s investment will further accelerate TruGenie’s innovation that drove improvement in asset performance and increased market value.”.

This strategic investment will help accelerate technology enhancements, expand market reach, and provide robust infrastructure and customer support for future growth.