Stanza Living Bags INR 100 Cr From Existing Investors

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SUMMARY

The latest round is part of the company’s larger fundraise which is expected to see commitments of INR 200 Cr from new and existing investors

Over the last year, Stanza Living is said to have been in talks with a clutch of late-stage investors, including SoftBank and sovereign wealth funds from the Middle East, but these discussions did not materialise due to indifferences in valuation

In FY23, Stanza registered a 2.9X surge in revenue from operations to INR 442 Cr from INR 115 Cr in FY22 even though its net loss increased marginally by 1.1X for the same period

Gurugram-based coliving startup Stanza Living has raised INR 100 Cr as part of its ongoing funding round. 

This raise is a part of the company’s larger commitment to raise INR 200 Cr backed by its existing investors, as reported by The Captable earlier this year. 

The company’s parent entity Dtwelve Spaces Private Limited has said in its regulatory filing that the fundraise saw participation from existing investors, including Alpha Wave, Matrix Partners, Accel India and Peak XV Partners.

Inc42 has reached out to Stanza Living about this development. The story will be updated based on the responses. 

Over the last year, Stanza Living is said to have been in talks with a clutch of late-stage investors, including SoftBank and sovereign wealth funds from the Middle East, but these discussions did not materialise due to indifferences in valuation.  

So far the company has raised a total of $240.9 Mn in funding. It counts Alpha Wave, Matrix Partners, Accel and Peak XV Partners as among its marquee investors. 

Founded in 2017 by Sandeep Dalmia and Anindya Dutta, Stanza Living offers rental accommodation to students and working professionals in cities across the country.

In FY23, Stanza registered a 2.9X surge in revenue from operations to INR 442 Cr from INR 115 Cr in FY22 even though its net loss increased marginally by 1.1X for the same period. It registered a net loss of INR 495 Cr in FY23 from INR 416 Cr in FY22.

In 2022, the startup forayed into the managed apartment segment with an initial inventory of 5,000 rooms and an investment of $10 Mn. As a part of this, it launched customised apartments in six cities, namely, Delhi, Gurugram, Bengaluru, Hyderabad, Pune and Chennai.

It is pertinent to note that the Covid-19 pandemic took a toll on the coliving category with many consumers apprehensive about shared living. Subsequent lockdown and stay-at-home mandates by the government around 2020 and 2021 also hampered the growth for coliving startups.  

For instance, home rental startup Nestaway, once valued at $220 Mn, was acquired by Aurum Proptech in a distress sale for INR 90 Cr ($10.93 Mn). 





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Stanza Living Bags INR 100 Cr From Existing Investors


SUMMARY

The latest round is part of the company’s larger fundraise which is expected to see commitments of INR 200 Cr from new and existing investors

Over the last year, Stanza Living is said to have been in talks with a clutch of late-stage investors, including SoftBank and sovereign wealth funds from the Middle East, but these discussions did not materialise due to indifferences in valuation

In FY23, Stanza registered a 2.9X surge in revenue from operations to INR 442 Cr from INR 115 Cr in FY22 even though its net loss increased marginally by 1.1X for the same period

Gurugram-based coliving startup Stanza Living has raised INR 100 Cr as part of its ongoing funding round. 

This raise is a part of the company’s larger commitment to raise INR 200 Cr backed by its existing investors, as reported by The Captable earlier this year. 

The company’s parent entity Dtwelve Spaces Private Limited has said in its regulatory filing that the fundraise saw participation from existing investors, including Alpha Wave, Matrix Partners, Accel India and Peak XV Partners.

Inc42 has reached out to Stanza Living about this development. The story will be updated based on the responses. 

Over the last year, Stanza Living is said to have been in talks with a clutch of late-stage investors, including SoftBank and sovereign wealth funds from the Middle East, but these discussions did not materialise due to indifferences in valuation.  

So far the company has raised a total of $240.9 Mn in funding. It counts Alpha Wave, Matrix Partners, Accel and Peak XV Partners as among its marquee investors. 

Founded in 2017 by Sandeep Dalmia and Anindya Dutta, Stanza Living offers rental accommodation to students and working professionals in cities across the country.

In FY23, Stanza registered a 2.9X surge in revenue from operations to INR 442 Cr from INR 115 Cr in FY22 even though its net loss increased marginally by 1.1X for the same period. It registered a net loss of INR 495 Cr in FY23 from INR 416 Cr in FY22.

In 2022, the startup forayed into the managed apartment segment with an initial inventory of 5,000 rooms and an investment of $10 Mn. As a part of this, it launched customised apartments in six cities, namely, Delhi, Gurugram, Bengaluru, Hyderabad, Pune and Chennai.

It is pertinent to note that the Covid-19 pandemic took a toll on the coliving category with many consumers apprehensive about shared living. Subsequent lockdown and stay-at-home mandates by the government around 2020 and 2021 also hampered the growth for coliving startups.  

For instance, home rental startup Nestaway, once valued at $220 Mn, was acquired by Aurum Proptech in a distress sale for INR 90 Cr ($10.93 Mn). 





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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