Student Housing Startup Your-Space Raises $10M In Series A Funding
Your-Space, a student housing startup, has raised $10 million in Series-A funding led by Shantanu Rastogi of General Atlantic, Ajay Gupta’s (Capital Foods) family office AJAX Capital and Holy Basil Consultancy Private Ltd.
The funding round, which is a combination of pure equity and convertible debentures, also saw participation from Manish Choksi’s (Vice Chairman at Asian Paints) family office, Sunidhi Group’s family office, Sanjaya Gupta (former MD & CEO of PNBHFL), and others.
As per the startup, the funding will be used for growth, focusing on metros and Tier I cities, and spearhead its operations using a scalable, modular technology platform to improve user experience and assist in building a large student community.
Your-Space | Student Housing Startup
Founded by Shubha Lal and Nidhi Kumra in 2016, Your-Space has over 7,000 operational beds across locations in Jalandhar, Delhi, Noida, Gurgaon, Hyderabad, Mumbai, Ahmedabad, Indore, Bangalore, Pune, Dehradun, and Jaipur, with operations in Hyderabad and Kolkata underway.
The student housing startup targets to have more than 20,000 beds by July this year for the coming 2022-23 academic year.
Speaking about the development, Ajay Gupta of Capital Foods said,
“The Indian student population base is growing consistently. The future of student housing is going to be driven by technology and building a strong community, and Your-Space is at the cusp of bringing about this change.”
Your-Space uses a technology-based approach for a student-based environment and has more than 60 smart spaces with tech-enabled safety features, such as facial recognition, biometrics, digital locks, etc.
As per Nidhi Kumra, Co-founder and CEO of Your-Space, their strategy for expansion is to remain focused on being the most preferred student housing brand in India. The space is projected to continue to grow to $25+ billion per annum by 2025, as per the company.
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