US GP joins Series C for India’s Stanza Living

Sequoia Capital India, Matrix Partners India, Accel Partners, Falcon Edge Capital, and Alteria Capital are also investors in the round. This is Equity International’s second India deal; it has provided at least $90 million across two rounds to business-class accommodation specialist Samhi Hotels. 

“We are excited to have Equity International support our company and growth trajectory and look forward to the team’s strategic guidance as we continue building our business,” Anindya Dutta, a managing director and co-founder of Stanza Living, said in a statement. “Shared accommodation is an evolving asset class in India with the potential to grow at least 4x over the next decade. We are determined to strengthen our position as the industry-leading brand.”

Founded in 2017, Stanza Living operates a portfolio of almost 50,000 beds across about 150 residences in 10 cities. The Delhi-based company describes its business as end-to-end managed, using data technology to lower costs and improve operational efficiencies across the value chain, as well as personalized consumer amenities and services. It said it would use the fresh capital to scale the portfolio, expand the geographic footprint, and solidify brand positioning. 

Co-living is considered a fast-growing lifestyle among young Indians in competitive urban real estate markets and synergistic with the proliferation of co-working spaces. Previous investees in this space include NestAway, a home rentals network operator that is expanding into the student housing segment, and Zolo, a managed accommodation platform targeting young professionals and students.

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• Topics
• South Asia
• Expansion
• Real estate
• Support services
• India
• Sequoia Capital
• Matrix Partners
• Accel Partners