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 cofounded by Sandeep Dalmia and Anindya Dutta to fill the lacunae that exist in the student accommodation market. Stanza plans to organize the $12 billion 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 and 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, cofounder, 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, cofounder of 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 at Matrix India.
Abhinav Chaturvedi, principal at 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.”