New Delhi, November 28th, 2017 - Matrix Partners India and Accel India announced today that they have co-led the first round of institutional investment in Stanza Living, a company focusing on the student accommodation space. Stanza Living will use the proceeds of the round to expand their footprint around the country, expand core technology platform as well as to add to their team.
Stanza Living was co-founded by Sandeep Dalmia and Anindya Dutta to fill the lacunae that exist in the student accommodation market. Stanza plans to organize the $12B student accommodation market by providing a superior student experience using best-in-class processes and technology at the front-end, at the same time increasing yields for landlords. Sandeep is an alum of Delhi College of Engineering & IIM Ahmedabad and prior to Stanza, was a Principal at BCG. Anindya was previously a Real Estate investor with Oaktree Capital, prior to which he worked at Goldman Sachs In London. He is an alum of IIT Kharagpur and IIM Ahmedabad.
Commenting on the fundraise, Sandeep Dalmia, co-founder, Stanza Living said, "We plan to disrupt the student accommodation market by providing a tech enabled, professionally managed student living experience. We are committed to developing a product that represents a significant upgrade from what incumbent student residences have to offer."
Additionally, Anindya Dutta, co-founder, Stanza Living added, “We are excited to have Matrix and Accel join us on this journey as we use the capital to scale our tech-enabled operations and expand across the country redefining student living experiences.”
“Today, students in India aspire for a higher level of safety, comfort and a feeling of community at their existing accommodation options. Stanza Living’s approach at creating a home away from home for students is a compelling value proposition that we expect will see rapid adoption from parents and students across the country. It is our privilege to partner with Sandeep and Anindya on this journey and look forward to working closely with them.” said Gourav Bhattacharya, Vice President, Matrix India.
Abhinav Chaturvedi, Principal, Accel added, “The student accommodation market in India is dominated by fragmented and unprofessional housing option providers. A typical student housing customer is underserved and has the ability and willingness to pay for superior experience. We are excited to be a part of this journey.”
About Stanza Living
Stanza Living (www.stanzaliving.com) is a technology-enabled, high-quality student accommodation concept which is seeking to disrupt the multi-billion-dollar student housing market by putting the student, as a consumer, at the heart of the product and service design, development and execution. From smart space planning in rooms to gamifying food, from creating common areas for engagement and community living to delivering reliable, predictable and standardized services to residents through back-end cutting-edge technology integration, Stanza is challenging the status quo when it comes to student community living. For the first time, Stanza Living is making student accommodation an experience product in line with evolved hospitality areas like hotels and serviced apartments. Stanza currently operates in Delhi-NCR and is targeting to expand its offering across multiple student markets in the country in the coming months.
About Matrix Partners India
Matrix Partners India is an investment firm with INR 4,500 crore under management. The firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Mswipe (mobile POS), Five Star Finance (SME lending), Treebo (digital hotel chain), Limeroad (mobile social commerce marketplace), OfBusiness (SME lending), Belong (recruitment platform) among others. Matrix Partners has a global network of funds investing in the US, China and India with US$ 4B under management. Further information is available at www.matrixpartners.in
Accel is a leading early and growth-stage venture capital firm powering a global community of entrepreneurs. Accel backs entrepreneurs who have what it takes to build a world-class, category-defining business. Founded in 1983, Accel brings more than three decades of experience building and supporting hundreds of companies. Accel has backed a number of iconic global platforms, including Atlassian, Braintree, BookMyShow, Cloudera, Dropbox, Etsy, Facebook, Flipkart, FreshDesk, MuSigma, Myntra, Ola-TaxiForSure, Slack, Spotify and others. For more information, please visit us at accel.com, or on facebook.com/accel