The corporate has raised the funds in a mixture of debt and choice shares from Alteria Capital India Fund-I
In October, Stanza Dwelling had acquired pupil lodging supplier YourShell for an undisclosed quantity
In 2019, Stanza Dwelling raised $4.Four Mn in enterprise debt from Alteria Capital
Delhi-headquartered co-living startup Stanza Dwelling has raised INR 44 Cr ($5.9 Mn) in a mixture of debt and choice shares from Alteria Capital India Fund-I.
Based on filings with the Ministry of Company Affairs (MCA) accessed by Inc42, the firm has raised the funds by issuing 86 Sequence C3 Cumulative Compulsorily Convertible Desire Shares (CCPS) and 4000 non-convertible debentures (NCDs) at a face worth of INR 100 per CCPS and INR 1 lakh per NCD. The premium for CCPS is INR 4,66,334 per share. The corporate additionally raised INR 40 Cr in debt.
The corporate has raised $70.2 Mn in 5 funding rounds. Earlier this month, Stanza Dwelling had raised INR 69 Cr ($9.Three Mn) from GHI India by issuing six fairness shares and Sequence C CCPS. In October, the corporate had acquired pupil lodging supplier YourShell for an undisclosed quantity.
Launched in 2017 by Anindya Dutta and Sandeep Dalmia, Stanza Dwelling is a tech-enabled co-living idea for college kids and dealing professionals. The startup claims to have a presence in 14 cities, with greater than 50,000 beds in over 150 residences, additionally claiming to be the biggest shared residing firm within the nation. The corporate affords lodging for costs starting from INR 3,500 to INR 25,000.
Stanza Dwelling claims that with its co-living idea, it could actually disrupt the “multi-billion-dollar student housing and co-living market in India by putting the new-age migrant consumer at the heart of the product and service design, development, and execution.”
In 2019, Stanza Dwelling raised $4.Four Mn in enterprise debt from Alteria Capital. This comes after it raised $12.Three Mn from marquee world buyers resembling Sequoia Capital, Matrix and Accel Companions within the final 15 months. In September 2018, Stanza Dwelling raised $10 Mn (INR 73 Cr) in a funding spherical led by Sequoia Capital with participation from current buyers — funding companies Matrix Companions and the California-headquartered Accel Companions.
Stanza Dwelling competes with Placio, Oxfordcaps and OYO Life within the pupil housing business.
Based on market and client analysis firm Statista, the market measurement of the coed housing business throughout the nation was estimated to be roughly INR 2,400 Cr in 2020, up from 1,267 Cr in 2018.