BENGALURU: Gurugram-based asset management firm MPowered acquires Cloy Infraa, an interior deisgn company to branch out and expand into a diverse portfolio of services under real estate asset-management solutions.
The company has been acquired by MPowered along with its entire team strength of over 70 employees, who will now be on the payrolls of the asset-management firm. This acquisition will also serve as a forerunner for MPowered to open up a new vertical of interiors fit-out funding for mid to large-sized corporations who would like to move towards interiors with capital investment.
âThis acquisition comes as the first of many strategic investments MPowered will be making in small to mid-sized firms that specialise in their respective segment. The idea is to enable these businesses with a strong leadership and adequate funding to upgrade to the next level,â said MPowered Founder and CEO Sudeep Singh.
MPowered was founded by serial entrepreneur Sudeep Singh and US-based IT thought leader, serial entrepreneur and investor, Bhavna Juneja, earlier this year. The firm that recently raised $ 21Mn in a pre-series A round from US-based investors, specialises in helping property owners convert their B and C grade properties into income-generating A-grade facilities.