Stanza Living Becomes The Most Capitalized Player In Co-Living Segment In India
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Tech-enabled co-living concept, Stanza Living has so far raised $70 million from marquee global investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners and Alteria Capital. The 2017 launched startup has more than 47,500 beds across key hubs like Delhi NCR, Bangalore, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodara and Dehradun.
Talking about the latest funding from Alteria Capital, Sandeep Dalmia, Managing Director and Co-Founder, Stanza Living in a statement to the press said, “As we continue to focus on transforming the shared accommodation sector in India are delighted to have strong financial planning support from our partners. We have scaled our high-quality living experience by over 400x in just 2.5 years of operations and will continue deepening access to consumers across the country.”
Ajay Hattangdi, Managing Partner, Alteria Capital talking about their investment said, “We are very excited to continue supporting Stanza Living with its focus on growing the business with strong fundamentals. Through this partnership, we are together working on creating financing and funding structures that will set a new precedent for the industry in India.”
Stanza Living is transforming shared student accommodations in the country with the introduction of high-quality and standardized services and amenities.
The Huge Co-living Market
According to a RedSeer report, the co-living space in India is worth $12 billion. The report says that the co-living industry has an addressable market of 10 million customers and has plenty of room for many players to grow and reach a sizeable scale. The report is based on the size of the population of millennials in the urban workforce in India. Some major co-living players in India are NestAway, Stanza, Ziffy Homes, Oyo Life, CoHo, House and Flathood.
Similarly, a report by property consultant Jones Lang LaSalle estimates the student housing market opportunity in India of $15 billion. It claims that India has about 34 million students in higher education bracket and there is a large demand for affordable housing option for students who migrate from smaller towns to bigger cities.