In order to grow its business, co-living operator Settl raised Rs 10 crore from Gruhas and We Founder Circle during its pre-Series A round. Participating in the round were Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum.
With the current round included, the company has raised about Rs 14.9 crore so far.
According to a press release from Settl, the most recent earnings will go toward technology, team growth, and working capital.
Settl, which was founded in 2020 by Abhishek Tripathi, lets users look for and rent fully furnished, modern apartments, individual rooms, or shared living spaces.
The startup is present in Chennai, Bengaluru, Hyderabad, and Gurugram. With a total capacity of 4,000 beds spread across these four cities, it boasts more than 60 co-living centers that are primarily geared toward working professionals. The company charges between Rs 12,500 and Rs 18,000 per bed for its rental accommodations.
