Stanza Living, a Delhi-based student housing start-up, has raised $10 million in a Series A round led by venture capital firm Sequoia Capital. Its existing investors, Matrix Partners and Accel Partners, also participated in the round.
The company plans to utilize the capital to launch its services in other cities, including Pune, Jaipur, Hyderabad, Bengaluru and Indore. It is also looking strengthen its leadership team, ramp up hiring, build technology and expand its network of operations.
Founded in 2017 by Anindya Dutta and Sandeep Dalmia, Stanza Living offers housing accommodation to students across Delhi and the National Capital Region (NCR). It operates a full-stack hospitality model, controlling inventory, management and food services. It has 2,000 beds across 16 properties in Delhi-NCR.
The student housing industry is pegged at $15 billion and is expected to grow three times in the next 10 years, according to industry experts. The segment is largely fragmented and unorganized. Stanza Living competes with the likes of Zolo, CoHo, Ziffy Homes and Homigo, which cater to students as well as professionals.