Groma Announces Strategic Equity Round

Groma’s mission is to enable everyone to own a bit of the world around them. Today, we’re announcing a new round of investment that will accelerate our efforts. This oversubscribed round brings in multiple new partners alongside our existing backers who are doubling down on Groma.

“It’s great to have such a strong vote of confidence in Groma’s direction both from some of our longstanding investors and from a new set of industry-leading partners”, said Groma CEO Seth Priebatsch. “As Groma pushes farther into unexplored onchain territory and continues to expand its footprint in the physical world, having both the capital and the expertise of these partners backing us will be of immense value.”

Groma will use these funds to accelerate the development of its onchain infrastructure, expand its physical real estate operations to new cities, and build the relationships and channels required to scale up marketing and distribution of GromaCoin. GromaCoin is already the largest onchain real estate asset as measured by industry stats provider RWA.xyz. The demand for durable real estate yields onchain is significant, with Groma now seeing holders from all over the world.

But bringing real estate onchain is only as good as the underlying real estate. This round of financing will continue to strengthen Groma’s real estate operating model, leveraging technology to bring efficiency to the historically overlooked “mini-multi” asset class, unstaffed rental properties with 2-20 units in urban cores.

“Small multifamily real estate is one of the most attractive investment opportunities in the US housing market today”, said F-Prime partner Sachin Patodia. “Groma’s technology and operational rigor make them uniquely equipped to institutionalize it at scale, and their on-chain distribution model adds another way to broaden access to individual investors. We’re excited to back Seth and the entire team at Groma as they take a model proven right here in Boston and scale it nationwide.”

Groma has hit a number of major milestones in the last year. Its property ecosystem has grown from under 50 buildings in the Boston area to over 150 buildings across Greater Boston and Providence. Grobot, our proprietary AI, now handles over 60% of property management tasks, reducing opex and improving resident experience. And GromaCoin (GRO), an ERC-3643 token representing fractional ownership of our property ecosystem, is now live, with 86M coins, each valued at $1.07 (up from $1.00 at inception) and delivering quarterly dividends of 3.74%.

“Onchain securities will be an enormous market, and launching a performant, compliant, tokenized real estate asset is a huge undertaking”, said Matt Walsh, founding partner at Castle Island Ventures. “The vision and execution of the Groma team is second to none, and Castle Island Ventures is excited to double down on our conviction in the company.”

To learn more about Groma, or to buy your first GromaCoin, please visit us at groma.com.