New Delhi-based student accommodation platform Stanza Living has raised $2 Mn from Matrix and Accel Partners.
The startup will be deploying raised capital to expand its presence in new cities, and further upgrade its technology platform and for talent acquisition.
Commenting on the investment, Gourav Bhattacharya, VP at Matrix Partners India said, “Today, students in India aspire for a higher level of safety, comfort and a feeling of community at their existing accommodation options. Stanza Living’s approach to creating a home away from home for students, is a compelling value proposition that we expect will see rapid adoption from parents and students across the country.”
Founded in 2017 by former Boston Consulting Group executive Anindya Dutta and Sandeep Dalmia, Stanza Living is a technology-enabled, high-quality student accommodation concept which is seeking to disrupt the multi-billion-dollar student housing market by putting the student, as a consumer, at the heart of the product and service design, development and execution.
The startup has around 100 students on its platform and plans to have 5,000 in the next two years. The cost per student ranges from Rs7,000 to Rs25,000, depending on the specifications of the accommodation.
“We are currently building another 300 housing spaces focused on students. We do not operate as a PG/rental aggregator, but instead focus on student accommodation services loaded with all facilities like internet connectivity, recreational spaces, housekeeping, and food services,” said Anindya Dutta.
From smart space planning in rooms to gamifying food, from creating common areas for engagement and community living to delivering reliable, predictable and standardized services to residents through back-end technology integration, Stanza is challenging the status quo when it comes to student community living.
Operating in market that is estimated at $10 billion, the startup currently operates only in Delhi and looking to widen its scope to cities that are educational hubs in the country such as Kota, Pune and Dehradun.