The Hive Hostels, the foremost luxury student housing brand in India, has successfully concluded a pre-IPO funding round, securing Rs 11.5 crore from renowned investors and personalities. The brand functions in more than 10 cities throughout the country.
The company will allocate the capital raised to the development of Aurus, an opulent extension of The Hive Hostels that is intended to provide even more exclusive and high-end student residences.
High-profile individuals, including Dr. Shriram Madhav Nene, Anmol Sood, Sahil Vachani, the Managing Director and CEO of Max Estates, and Rohit Kothari’s Anchorage Capital Fund, participated in the funding round.
Ritesh Malik, Ankit Mittal, and his family office, Sixth Sense Ventures Partners, were among the prominent angel investors who participated in the round.
Read also – AGRIM Secures $17.3 Mn Series B Funding Round
Hive Hostels, a company that is renowned for its luxurious and comfortable accommodations that are particularly designed for students, is preparing for an Initial Public Offering (IPO) in the latter half of the subsequent year.
The Hive Hostels’ investment banker during this round was Kyro Capital Private Limited, which was headed by Aman Maheshwari.
The Hive Hostels also announced its entry into a new vertical, Hive Campus Living, to concentrate on the management of in-house hostel operations for universities, in addition to this expansion.
About Hive Hostels
Founded in 2019 by Bharat Agarwal, The Hive Hostels is a chain of luxury hostels in India that offers high-end amenities and services to students and working professionals.
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