Co-living startup Settl secures Rs. 10 cr in pre-series A round from Gruhas, We Founder Circle, Inflection Point Ventures

Bengaluru, January 2, 2024: Proptech startup Settl., a co-living operator, has raised Rs 10 crore from investors including Gruhas and We Founder Circle to expand its business.

Settl. has presence in Bengaluru, Hyderabad, Gurugram and Chennai. It has 60+ co-living centres across these four cities with a total capacity of 4000 beds, targeted mainly for working professionals. The company offers rental accommodations in a price range of Rs 12500- Rs 18,000 per bed.

Gruhas is founded by Nikhil Kamath of Zerodha and Abhijeet Pai of Puzzolana Group.

Anthill Ventures, Inflection Point Ventures, Ah! ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP and Ekyum also participated in the Pre Series A round.

The company will use this fund for working capital, team expansion, and technology. Settl., which was founded in 2020, offers co-living spaces, PGs, and apartments for rent. Including the current round, the company has raised Rs 15 crore from investors. 

The aim is to provide affordable and comfortable housing solutions for millennials and young professionals who are looking for convenient and hassle-free living options.

Settl’s platform allows users to search for and rent shared living spaces, individual rooms, or entire apartments that are fully furnished and equipped with modern amenities. 

Abhijeet Pai of Gruhas, says, “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. Gruhas is excited about investing in Settl, it also marks our second investment in the first cohort of the Gruhas Aspire accelerator program for proptech and cleantech ventures.” 

Abhishek Tripathi, Co-Founder & Director, Settl., says, ” 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.”