Co-living startup Settl raises Rs 10 Cr in pre-series A round

Co-living operator Settl has raised Rs 10 crore in its pre-Series  A round from Gruhas and We Founder Circle to expand its business. Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP and Ekyum also participated in the round.

The firm has raised around Rs 14.9 crore to date including the current round. As per Fintrackr’s analysis, it was valued at around Rs 30 crore following the latest fundraise in September 2021. 

The latest proceeds will be used for working capital, team expansion, and technology, Settl said in a press release.

Founded in 2020 by Abhishek Tripathi,  Settl allows users to search for and rent shared living spaces, individual rooms, or entire apartments that are fully furnished and equipped with modern amenities. 

The startup has a presence in Bengaluru, Hyderabad, Gurugram and Chennai. It claims to have over 60 co-living centres across these four cities with a total capacity of 4,000 beds, targeted mainly for working professionals. The company offers rental accommodations in a price range of Rs 12,500- Rs 18,000 per bed.