India: Coliving operator Settl has raised Rs 10 crore (£950,000) in a pre-Series A funding round as it aims to expand its operations.
The round saw participation from Gruhas and We Founder Circle, along with investors including Anthill Ventures, Gurugram-based Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum.
To date, Settl has raised approximately Rs 14.9 crore (£1.41 million), including the current round. An Entrackr report claims the round values the startup at Rs 30 crore (£2.85 million).
What is the purpose of fundraising?
Settle said the raised funds would be allocated towards working capital, team expansion, and technology enhancements.
Abhishek Tripathi, co-founder and director of Settl, said: “The premium coliving market is in a massive expansion phase, and Settl has seized this opportunity quickly and effectively.”
Founded in 2020, Settl caters to the need for modern, fully furnished shared living spaces. The startup operates in Bengaluru, Hyderabad, Gurugram, and Chennai. It has more than 60 coliving centres across these cities, offering a total capacity of 4,000 beds.
