Construction and infrastructure materials focused B2B platform ArisInfra has acquired an undisclosed stake in Bengaluru-based real estate solution provider Unitern Advisors, the company said.
The deal is a combination of stock and cash. According to two people aware of the development, the deal is valued between $10-12 million.
The stake acquisition aims to provide end-to-end operational solutions to all the stakeholders in the real estate industry. In line with this investment, Aris and Unitern will provide advisory services, working capital solutions and access to construction materials on a combined platform aiming at a turnover of Rs 1,500 crore in the next six months.
Unitern Advisors provides financial and operational solutions for real estate space. Unitern focuses its activities on strategic consulting and investments.
ArisInfra was co-founded by Ronak Morbia and Bhavik Khara in Mumbai in early 2021. It is backed by Think Investments LP and the Mankekar Family Office, Ankur Thadani (Partner at TPG Growth & Rise Funds), Ramakant Sharma (co-founder of LivSpace) and co-founders of PharmEasy.
“This new Avatar is an important step in Unitern becoming a complete enterprise solution provider, with the might of Aris’ digital platform, within the real estate industry. All our services hereafter will be carried out under the ArisUnitern platform. Along with our existing services, we now offer Aris’ proprietary single window digital solution for Material sourcing and credit to our clients,” Navin Dhanuka, CEO and Managing Director of ArisUnitern said.
ArisInfra is an infratech platform to simplify construction, the busisness to business digital platform helps simplify sourcing, innovations in managing a complex supply chain and cost-effective techniques for managing logistics and credit.
Ronak Morbia, co-founder of Aris Infra, said that the investment in Unitern Advisors was made due to their expertise in the construction industry and their understanding of nuances of the South India market.
“With the strength of our platform and tie-ups across India with the top players; and Unitern’s ability to stitch in innovative and practical solutions to the RE industry; our combined platform will bring in seamless digital solutions to problems of this industry," he added.