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US: Former Uber CEO Travis Kalanick has teamed up with Oliver Ripley, co-founder of hospitality company Habitas, to launch Sekra, a multifamily development and management company.
Sekra is a startup focused on building and managing luxury apartments aimed at wealthy, younger renters, according to US reports.
It has raised US$12.5 million in its first round of seed funding, which was co-led by venture capital firms Fifth Wall and 8VC.
The company plans to target sites in US coastal cities as well as Riyadh and Dubai. Sekra plans to start by acquiring, renovating and operating existing properties before eventually developing its own new-build projects.
The firm plans to capitalise on new technology and hospitality measures to meet the needs of the growing Generation Z renter demographic. This includes using tech to control appliances, lighting to support sleep.
Habitas was backed by Kalanick and Starwood Capital CEO Barry Sternlicht. In 2022, it received a US$50 million investment from the Public Investment Fund of Saudi Arabia and A&K Travel Group. The brand has 13 hotels in the Americas, the Middle East and Africa.
Kalanick has also invested in the ghost kitchen market, launching CloudKitchens and acquiring more than 40 properties in two dozen cities for US$30 million.
Highlights:
- Former Uber CEO Travis Kalanick has teamed up with Oliver Ripley, co-founder of hospitality company Habitas, to launch Sekra, a multifamily development and management company
- Sekra is a startup focused on building and managing luxury apartments aimed at wealthy, younger renters, according to US reports
- It has raised US$12.5 million in its first round of seed funding, which was co-led by venture capital firms Fifth Wall and 8VC
- The company plans to target sites in US coastal cities as well as Riyadh and Dubai.
