Indian student housing firm, Stanza Living has proclaimed to have received funds in Series C round, which was led by Falcon Edge Capital, according to a media report.
Existing investors Sequoia Capital, Matrix Partners and Accel also took part in the round, Stanza Living said in a statement, as reported by the daily news, VC Circle.
According to the cited reports, the startup company has said that this is the first tranche of the ongoing round. Further, the company said that it has committed to invest INR 250 crore to strengthen its pan-India presence.
The investment would help the company build its capabilities and strengthen its footprint in the student housing segment, Co-founder and MD of Stanza Living, Anindya Dutta told the daily news.
We will be deploying a significant part of the raised capital towards these efforts, Dutta added.
The firm was confident in its investment in Stanza because of the startups supply aggregation and value-added services, Co-founder of Falcon Edge, Navroz D Udwadia told the daily news.
Stanza Living, which is administered by Dtwelve Spaces Pvt. Ltd was established by Sandeep Dalmia and Anindya Dutta in February 2017. Both the co-founders have worked in the investment sector before founding the startup, Dalmia worked at Boston Consulting Group whilst Dutta worked at an investment company, Oaktree Capital.