Proptech firm Settl has secured Rs 10 crore from investors, such as Gruhas and We Founder Circle.
This fund will be utilized by the organization to operate funding and expand the staff, and tech.
Participating in the Pre Series A round were Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum.
“The premium co-living market is in a massive expansion phase and Settl has seized this opportunity quickly and effectively and is on the best track to become the leader of this sector in India. Joining forces with such marquee investors at this crucial step will only help in growth and expansion,” said Abhishek Tripathi, cofounder and director, Settl.
With a total population of 4,000 beds, Settl has more than 60 co-living centres spread throughout Bengaluru, Hyderabad, Gurugram, and Chennai. The company rents out rooms for between Rs 12,500 and Rs 18,000 per bed, as reported by The Economic Times.
“The shift from rural to urban living is transforming cities, and Settl embodies this change. It’s a community-driven space that’s safe, inclusive, and tech-driven,” said Abhijeet Pai of Gruhas.
Settl specializes in offering residential solutions, community-driven platforms, and tech-enabled property management. In Bangalore, some co-living places served as its starting point.