Startup Your-Space raises around Rs 75 crore for expanding student housing

Student housing startup Your-Space has raised around Rs 75 crore from a group of investors for expanding its business. The company raised the amount in Series-A funding through a combination of pure equity and convertible debentures, Your-Space said in a statement.

The company will utilise these funds for growth focusing on metros and Tier I cities. They will also enhance operating robustness through a scalable, modular technology platform, which will help augment user experience and assist in building a large student community, the company 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," co-founder and COO Shubha Lal said.

The funding round was led by personal investment from Shantanu Rastogi (General Atlantic) and Ajay Gupta's (Capital Foods) family office AJAX Capital and Holy Basil Consultancy. The round also saw participation from Manish Choksi's (Vice Chairman at Asian Paints) family office, Sunidhi Group's family office and Sanjaya Gupta (former MD & CEO of PNBHFL), among others.