Delhi-based student accommodation platform Stanza Living has raised funds in its first round of institutional funding via Matrix Partners and Accel Partners. According to one report, the amount of fund raised is ₹13 Crore.
The startup will use the funds to expand into new cities, upgrade its technology platform, and for hiring.
Founded in 2017 by Anindya Dutta and Sandeep Dalmia, Stanza Living is a technology-enabled, high-quality student accommodation concept which is seeking to disrupt the multi-billion-dollar student housing market by putting the student, as a consumer, at the heart of the product and service design, development and execution. From smart space planning in rooms to gamifying food, from creating common areas for engagement and community living to delivering reliable, predictable and standardized services to residents through back-end technology integration, Stanza is challenging the status quo when it comes to student community living.
The startup has around 100 students on its platform and plans to have 5,000 in the next two years.The cost per student ranges from Rs7,000 to Rs25,000, depending on the specifications of the accommodation.
“We are currently building another 300 housing spaces focused on students. We do not operate as a PG/rental aggregator, but instead focus on student accommodation services loaded with all facilities like internet connectivity, recreational spaces, housekeeping, and food services,” said Anindya Dutta in a statement to Livemint.
Operating in market that is estimated at $10 billion, the startup currently operates only in Delhi and looking to widen its scope to cities that are educational hubs in the country such as Kota, Pune and Dehradun.