Student housing startup Oxfordcaps has raised $8 million in Series A round led by Times Internet. Existing investors Kalaari Capital and 500 Startups also participated in the financing round.
The online booking platform allows university students to book their ready-to-move-in student accommodation in Singapore and India, will use the latest proceeds towards expansion, bringing in more products, ramping up design and technology.
Founded by Priyanka Gera, Oxfordcaps provides custom designed and standardised student housing product with a full-stack model of services and amenities.
The company claims to have clocked 30X growth in 10 months since its launch in India and operated with over 6,000 beds.
Further, it aims to acquire 10,000 beds and expanding its operations across education hubs in India including Delhi, Noida, Greater Noida, Dehradun, Indore, Jaipur, Pune, Bengaluru, and Ahmedabad.
The startup operates via three sub-brands and caters to students across price segments, including Oxfordcaps Premium Residences, Oxfordcaps Student Residences and Oxfordcaps Dorms for the budget segment.
Like India, Oxfordcap’s community comprises of students enrolled at eminent universities in Singapore such as National University of Singapore (NUS), Nanyang Technical University (NTU), Singapore Management University (SMU), amongst others.
Apart from accommodation, it also offers several community engagement opportunities including career events, entertainment, food trails and travel deals for the student community.
In July 2017, the firm had secured an undisclosed amount of funding in a seed round led by 500 Startups.
Of late, Private equity firm Warburg Pincus was setting up a joint venture with Lemon Tree Hotels to foray into co-living space for students and working professionals.
Other startups focusing on students accommodation are Nestaway, Zocalo, StayAbode, Zocalo, Homers, Homigo, Yourspace, and Campus Ville, to name a few.
The development was reported by Business Standard.