Proptech

Settl Secures Rs 10 Crore in Pre-Series A Funding for Co-Living Expansion

• ByStartupStory     |    January 2, 2024

Settl, a co-living operator, has successfully raised Rs 10 crore in its pre-Series A funding round from investors such as Gruhas and We Founder Circle. Other participants in this round include Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum, indicating a significant vote of confidence in the startup’s expansion plans.

With this round, Settl has now raised approximately Rs 14.9 crore, building upon its valuation of around Rs 30 crore after its last fundraising endeavor in September 2021, according to analysis from Fintrackr.

Settl disclosed that the freshly acquired capital will be channeled towards critical areas such as working capital, team scaling, and bolstering technological infrastructure, as highlighted in their press release.

Established in 2020 by Abhishek Tripathi, Settl operates as a platform enabling users to discover and lease shared living spaces, individual rooms, or fully-furnished apartments equipped with contemporary amenities.

Operating across Bengaluru, Hyderabad, Gurugram, and Chennai, Settl boasts a network comprising over 60 co-living centers, collectively offering a capacity of 4,000 beds tailored primarily for working professionals. The company’s rental offerings range between Rs 12,500 and Rs 18,000 per bed, catering to various budget preferences.

Tripathi’s statement on the company’s mission and growth strategy remains central: “Settl allows users to search for and rent shared living spaces, individual rooms, or entire apartments that are fully furnished and equipped with modern amenities.”

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