Your-Space, a student housing startup, has raised $10 million (roughly Rs 75 crore) from a group of investors for business expansion and growth. Your-Space said in a statement that the amount was raised in Series-A funding through a combination of pure equity and convertible debentures.
Personal investments from Shantanu Rastogi (General Atlantic) and Ajay Gupta’s (Capital Foods) family offices AJAX Capital and Holy Basil Consultancy led the funding round.
Manish Choksi’s (vice chairman of Asian Paints) family office, Sunidhi Group’s family office, and Sanjaya Gupta (former MD & CEO of PNBHFL) also participated in the round.
“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.
According to her, the funds will help the company expand its presence in a competitive and crowded market.
In 9 cities, Your-Space has over 7,000 operational beds. It aims to have more than 20,000 beds available by July of this year for the upcoming academic year 2022-23.
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