Stanza Living, a Gurugram-based co-living startup, has acquired enterprise Internet of Things (IoT) platform Singularity Automation in an all-cash deal to strengthen its technology ecosystem.

As per the startup, the acquisition will strengthen its existing technology ecosystem and help develope highly-customized IoT-based solutions for the managed accommodation sector.

The deal amount was not disclosed, and post the acquisition deal, the founders and the core team at Singularity Automation will be joining Stanza Living.

Stanza Living | Managed Accommodations

Founded by Anindya Dutta and Sandeep Dalmia, Stanza Living provides managed accommodations to students and working professionals. Recently, Stanza Living raised $57 million (Rs 425 crore) in debt financing from Kotak Mahindra Bank, RBL Bank and Alteria Capital.

In 2020, the co-living operator had acquired student accommodation startup YourShell.

Speaking about the development, Anindya Dutta, managing director and co-founder of Stanza Living, said,

“Technology has always been at the forefront of everything we do at Stanza Living. We look forward to customising their existing solutions and creating fresh IoT-based platforms together as we build a first-of-its-kind managed living ecosystem.”

Founded by Chakradhar Reddy Veeramreddy, Singularity Automation, under the brand SecurePass, offers a full-fledged cloud-based & contactless access control system that lets you manage access to your property from a centralised location.

Backed by IvyCap Ventures and Times Internet, Singularity Automation’s existing product portfolio includes smart door locks, secure access controllers, and smart energy meters, among others.

Commenting on the development, Chakradhar Reddy, CTO, Singularity Automation, said,

“We are proud to roll up into India’s largest managed accommodation company and become a part of their aggressive growth journey. Given our common DNA and aligned vision to reimagine the managed accommodation space through the deployment of technology, I’m confident that our existing product suite and our team’s proven track record will further sharpen Stanza Living’s best-in-class technology ecosystem.”

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