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Rukita, an Indonesia-based proptech company, announced on Thursday the successful closure of a $15 million Series B1 funding round. The funding saw participation from notable investors and partners, including MPower Partners, BNI Ventures, Openspace Ventures, and international impact investors such as NBA star Jeremy Lin, as disclosed in a statement by Rukita.
The Series B1 round witnessed the active involvement of existing investors, including Peak XV’s Surge, Golden Gate Ventures, Shunwei Capital, OCBC Ventures, and Real Estate Veteran David Tsang.
Amidst challenging market conditions and an ongoing funding winter in the region, Rukita’s ability to secure substantial funding demonstrates confidence in its position as a market leader. The funds will play a pivotal role in accelerating Rukita’s growth initiatives, focusing on technological advancements, expanding service offerings, and attracting top-tier tech talent to enhance its team.
Rukita aims to leverage this infusion of capital to capitalize on emerging opportunities within the dynamic Indonesian market, reinforcing its robust foundation.
Sabrina Soewatdy, Chief Executive Officer of Rukita, expressed enthusiasm, stating, “This funding marks a significant step forward in our journey to redefine the real estate landscape and drive accessibility to quality housing for different lifestyles and life stages.”
Chief Operating Officer Sarah Soewatdy added that they look forward to strengthening their platform by deepening their bench strength of tech talent to better serve their growing base of renters and property owners.
Founded in 2019 by Sabrina Soewatdy and Sarah Soewatdy, Rukita was established to address Indonesia’s housing crisis and cater to the growing popularity of rental housing among the rising middle-class and millennial population. With continuous positive EBITDA and impressive supply growth, Rukita manages 1.4 million rooms under its ecosystem and boasts over 3 million unique users monthly.
The challenging nature of Indonesia’s rental housing market, characterized by fragmentation and the need to balance various aspects like property management, supply, financing, marketing, hospitality, and operations, is where Rukita’s success lies. Its proptech ecosystem and tech infrastructure seamlessly bring together property, landlords, market insights, marketplaces, financing, and end-to-end tenant services, reshaping the concept of home and home ownership.
Rukita’s model, departing from the ‘one-size-fits-all’ approach, offers a range of living options for Indonesians of any age and income level. The company is committed to delivering a ‘home that grows with you,’ supporting customers through every life stage, ensuring a smooth transition between homes, and providing steady income streams to landlords.
Yumiko Murakami, General Partner of MPower Partners, expressed excitement about Rukita becoming their first investment in the Southeast Asian market, aligning with the fund’s vision of integrating ESG principles into the core strategies of startups.
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By Proptechbuzz
By Ravi Kumar
