Indian student accommodation start-up receives $500,000
Indian student accommodation start-up your-space has received $500,000 in angel funding from a round led by high-net-worth individuals and investors from India and further afield. The company, founded by Karan Kaushish, Shubha Lal and Nidhi Kumra, was established in July 2016 to provide holistic living for students and had previously been funded by its founders alone. The company will use the funding to expand its premium student housing services across the National Capital Region region, which is centred on Delhi, and to double its current occupancy rates.

Millions of students in India walk out in strange cities for education and higher studies but are faced with the struggles of looking for a decent accommodation. But, you don’t need to worry any longer as Delhi-based housing startup ‘your-space’ has come to your rescue.

The early venture has nabbed half a million dollars in an angel funding round led by HNIs and leading investors from both India and abroad to help you find the perfect living spot. The round pours in fresh capital into your-space, which was till date bootstrapped by its founder.

Founded by Shubha Lal, Karan Kaushish, and Nidhi Kumra, your-space aims to provide safe and clean residences to students. The platform fosters holistic living through carefully chosen facilities and services and provides living spaces in Delhi. Co-founder Shubha herself did her graduation from Lady Shriram College in New Delhi and struggled to find a good, clean and safe place to live.

Even after years of graduating witnessing the similar condition and unorganized fieldwork, the venture was initiated by the trio. your -space launched its first girls’ hostel in Greater Noida in July 2016. It secured 100% occupancy within a month of launch.

The recently scored investments will be used towards the expansion of their premium student housing venture. The venture plans to double their occupancy by extending their reach in other educational hubs in the NCR region, like Delhi University’s North and South Campuses, and Noida. Apart from the successful angel round, TurningIdeas Ventures led by Ashish Mittal incubated your-space into its current portfolio.

Speaking on extension of their services to your-space, Ashish Mittal said,

The startup is growing from strength to strength. Standardization in student housing is an emerging market and your-space have already demonstrated early success and I am excited to mentor the team.

The investor participants for this angel round belonged to leading financial institutions, real estate, and hospitality sectors. All of them agreed that a comfortable and safe accommodation for students is a key requirement in India currently. The mentioned market holds deep potential with an estimated worth of Rs 20,000 crore annually. The venture aims to assure that students focus on studies rather than get stuck scouting well-furnished living spaces.