Your-Space, a student housing startup, has raised $10 million in series-A funding (a combination of pure equity and convertible debentures) led by the personal investment from Shantanu Rastogi (of General Atlantic) and Ajay Gupta’s (Capital Foods) family office AJAX Capital and Holy Basil Consultancy, the company said in a media release.
The investment round also saw participation from Manish Choksi’s (Vice Chairman at Asian Paints) family office, Sunidhi Group’s family office, Sanjaya Gupta (former MD & CEO of PNBHFL) amongst others.
Shubha Lal, co-founder and COO of the company said, “The funds will help us deepen our presence in a competitive crowded market. It gives us the fire power to continue delivering global service standards at scale.”
The company will utilize these funds for growth focusing on metros and tier I cities. Part of the funds will also be used to further strengthen and retain the core team.
Your-Space currently has over 7,000 operational beds in nine cities and plans to have more than 20,000 beds by July 2022 for the coming 2022-2023 academic year.