Your-Space, an Indian student housing startup, has raised USD 10 million in a Series A funding round led by Shantanu Rastogi ( General Atlantic) and Ajay Gupta’s (Capital Foods) family office AJAX Capital and Holy Basil Consultancy on 17 January 2022.
Investors: The latest funding round was led by Shantanu Rastogi (General Atlantic) and Ajay Gupta’s (Capital Foods) family office AJAX Capital and Holy Basil Consultancy with participation from Sunidhi Group’s family office, Manish Choksi’s (vice-chairman at Asian Paints) family office, Sanjaya Gupta (former MD & CEO of PNBHFL), among others.
The Objectives behind the funding: The company plans to deploy the current proceeds to deepen its presence in a crowded, competitive market, strengthen its team and continue delivering global service standards at scale.
“The company will utilise these funds for growth, focusing on metros and tier I cities. They will also be enhancing operating robustness through a scalable, modular technology platform, which will help augment user experience and assist in building a large student community,” the statement said.
Founded in 2016 by Nidhi Kumra and Shubha Lal, Your-Space is a student-focused hospitality company that intends to offer safe, trendy and upmarket hostel living spaces. The startup’s ecosystem fosters holistic living through their carefully chosen facilities and services, enabling students to create a pleasant atmosphere that is safe and comfortable. Your-Space has more than 7,000 operational beds in 9 cities. It targets to have over 20,000 beds by July this year for the coming 2022-23 academic year. The company aims to address every need of the student, mindful of local and cultural requirements, with unique takes on what constitutes the best and most trusted hostel for young adults who study away from home.
What the Founders have to say:
“The fundraising is a testament to the confidence of our stakeholders in our value proposition- sharp focus on product management and redefining customer service standards at a reasonable price,” said co-founder and COO Shubha Lal.
“We are in the sector of Student Lifestyle! Our strategy for expansion is to remain focused on being the most preferred student housing brand in India,” said Nidhi Kumra, co-founder and CEO.
What the Investor has to say:
Shantanu Rastogi said, “There is a significant unmet need for safe, comfortable, convenient and affordable lodging & community spaces for 30M+ migrant undergrad and post-grad students in India”.
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