Delhi-based managed accommodation provider Stanza Living raises Rs 110Cr in funding: Report

Managed accommodation provider Stanza Living has reportedly raised Rs 110 crore ($13 million) in a bridge funding round led by Alpha Wave. 

According to an Entrackr report, This round marks the first equity round for the Delhi-based startup in over three years. 

In March 2022, The startup secured $57 million in debt financing from Kotak Mahindra Bank and RBL Bank. So far, It has raised over $230 million through various equity and debt rounds

Who are the investors?

The report said Alpha Wave invested Rs 83 crore in the funding round. Additionally, Matrix Partners, Accel India, and Peak XV invested a cumulative total of Rs 27 crore.

Alpha Wave, previously known as Falcon Edge, is the top stakeholder with 26.62% of the shares, followed by Matrix Partners and Accel.

At what valuation?

According to startup data intelligence platform TheKredible, Stanza Living's valuation has increased slightly to around Rs 3,900 crore ($470 million) from Rs 3,525 crore ($424 million) in the previous equity round.

The company’s revenue from operations surged to Rs 442 crore in FY23, up from Rs 115 crore in FY22. However, losses also increased by 18.71% to Rs 495 crore in FY23 compared to Rs 417 crore in FY22.

What does Stanza Living do?

Founded in 2017 by Anindya Dutta and Sandeep Dalmia, Stanza Living provides managed accommodation solutions, targeting both working professionals and students. 

The startup operates in 24 cities across India and claims to have an inventory of more than 75,000 beds in over 450 residences.