HDFC Capital acquires an 8.5% stake in TruBoard Technologies

HDFC Capital Advisors has acquired an 8.5% stake in TruBoard Technologies. TruBoard has developed an innovative technology platform called TruGenie, designed specifically for real estate asset management. TruGenie addresses the needs of investors, asset owners, and developers, and is currently utilized by several top private banks and real estate funds.

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

Vipul Thakore, co-founder of TruBoard, expressed his pride in the company's progress and praised the dedication of their team. He stated, “This strategic investment by HDFC Capital is a testament to our vision and the value we bring to the industry. We are poised to accelerate our growth, innovate at a faster pace, and make a greater impact. We will continue to strive for excellence and innovation.”

Nilesh Shah, Managing Director of Kotak Mutual Fund and an early-stage investor in TruBoard, highlighted the transformative impact of TruGenie. He stated, “TruBoard’s TruGenie platform, which leverages AI, IoT, and big data analytics, is revolutionizing real estate management. It provides capital providers, developers, and customers with real-time insights and improved decision-making. HDFC Capital's investment will expedite TruGenie's innovation, enhancing asset performance and increasing market value.”

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