Your-Space has raised $10 million from a clutch of investors for the expansion and growth of its business. The amount was raised in Series-A funding through a combination of pure equity and convertible debentures, Your-Space said in a statement.
The round also saw participation from Manish Choksi’s (vice chairman at Asian Paints) family office, Sunidhi Group’s family office, Sanjaya Gupta (former MD & CEO of PNBHFL), among others. The co-founder and COO Shubha Lal said:
“The fundraising is a testament to the confidence of our stakeholders in our value proposition- sharp focus on product management and redefining customer service standards at a reasonable price.”
The funds will help the company deepen its presence in a competitive crowded market, she added.
Your-Space has over 7,000 operational beds in 9 cities. It targets to have more than 20,000 beds by July this year for the coming 2022-23 academic year.
The company’s goal was to make the students’ world better while they toil hard to study away from their homes.
It focuses on security, comfort, community and health.
The company said, the student housing market size is projected to reach over $25 billion annually by 2025.