Settl, a premium co-living startup, has raised Rs 10 crore in a pre-series A round led by Gruhas, a venture capital fund backed by Zerodha’s Nikhil Kamath and Abhijeet Pai of Puzzolana Group. The round also saw participation from other investors such as We Founder Circle, Anthill Ventures, Inflection Point Ventures, Ah! ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP and Ekyum.
Settl’s Growth and Expansion Plans
Settl, which was founded in 2020, offers co-living spaces, PGs, and apartments for rent. The company has over 60 co-living centres across Bengaluru, Hyderabad, Gurugram and Chennai with a total capacity of 4,000 beds. The company offers rental accommodations in a price range of Rs 12,500-Rs 18,000 per bed. The company targets mainly working professionals who are looking for affordable and comfortable housing solutions with modern amenities and community benefits.
The company will use the fresh funds for working capital, team expansion, and technology enhancement. The company aims to increase its presence in existing markets as well as enter new cities such as Mumbai, Pune and Delhi-NCR. The company also plans to launch new products and services to cater to the evolving needs of its customers.
Investors’ Views on Settl
The investors expressed their confidence in Settl’s vision and potential to become the leader of the premium co-living market in India. They praised Settl’s community-driven approach, tech-enabled platform and customer-centric offerings.
Abhijeet Pai of Gruhas said, “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.”
Abhishek Tripathi, cofounder and director of Settl said, “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.”
Including the current round, the company has raised Rs 15 crore from investors so far.