Settl Raises $500,000 In Seed Round
The funds will be used to enhance technology stack and increase supplies
Settl, a technology-driven managed accommodation platform, has raised $500,000 in Seed funding. The round witnessed participation from ah! Ventures, We Founder Circle and other angel investors.
The funds will be used to enhance technology stack and increase supplies. Additionally, the startup also plans to expand aggressively across cities, said a statement.
"We are building a network that caters to the modern needs of flexi-living where Settl brings thoughtfully designed spaces and curated experiences," said Bharath Bhaskar, co-founder at Settl, in the statement.
"The pandemic has changed a lot of things in the real estate and rental space. Settl has great potential to become a beautiful one-of-the-first combination of co-living with co-working. The founders have strong industry expertise and their business expansion strategy is also clear and aggressive,” said Karn Rajani, venture partner, ah! Ventures.
"I believe the founder holds enormous talent and wisdom as he observed the rare need of the changing society. The company is working persistently to offer living space to the urban population with high-quality infrastructure and other amenities,” said Neeraj Tyagi, co-founder and CEO at We Founder Circle.
In over a year, Settl has already locked 1,200 beds across two cities. It is witnessing a rise in demand at the rate of 30 per cent quarter-on-quarter. With the fresh funds infusion, it aims at serving over 3,000 clients per month, added the statement.