Settl, a technology-driven managed accommodation platform, has bagged an investment worth $500K in the seed roud. The funding round witnessed participation from an esteemed array of investors – ah! Ventures, We Founder Circle and other angel investors like – Saurabh Jha (Director- Growth and Analytcs, Housing.com), Ashu Dubey (Principal Product-Linkedin), Mahesh Pillai, Senior Vice President, Pierian Services Private Limited and Abdul Paravengal (ex CBO, Shipper). This is ah! Ventures’ 95th investment (in 75 Startups) taking its total investment portfolio to INR 241 CR (~32 MN USD) with 11 exits and 18 follow on rounds till date. With 32 investments in 2021 till date ah! Ventures plans to do 40+ investments this year totalling to INR 150+ CR (~20MN USD).
The organization plans to deploy funds to enhance the technology stack and acquire more supplies. Additionally, the start-up plans to expand aggressively across cities including -Delhi-NCR, Pune, and Chennai, targeting creating an inventory of more than 2000 beds in the next 6 months for the urban professionals.
“We are building a network that caters to the modern needs of Flexi living where Settl brings thoughtfully designed spaces and curated experiences with a bunch of amenities that makes city living effortless”, said Bharath Bhaskar, Co-Founder, Settl.
“Since covid and work from home coming into play – a lot has changed for the real estate world and in the rental space. Hence, a lot of people are investing to enter the market at its lowest. Although everyone is learning as they go, the early entrants would benefit the most. Settl has great potential to become a beautiful one-of-the-first mix of co-living+co-working if the founders play their cards right. The founders have strong industry expertise, and their GTM & Business Expansion strategy is also clear and aggressive.”, stated Karn Rajani, Venture Partner, ah! Ventures.
“I believe the founder holds enormous talent, and wisdom as he has observed the rare need of the changing society. The company is working persistently to offer living space to the urban population with high-quality infrastructure and other amenities. I have a strong faith that the company will achieve its future targets and present a tremendous growth in the long run”, said Mr. Neeraj Tyagi-Co-founder and CEO, We Founder Circle.
In a short span of slightly more than a year, Settl has already locked 1200 beds across 2 cities. It is witnessing a rise in demand at the rate of 30% quarter on quarter. With the fresh funds infusion, it aims at serving over 3000 clients per month.
Know More: Abhijeet Kumar, abhijeet@ahventures.in
About Settl
Settl, a Bengaluru based, technology-driven managed accommodation platform, is focused on providing an appropriate and quality living experience for the urban working inhabitants. The start-up helps millennials to save their valuable time for things. They provide well furnished rooms, 24/7 power backups, high-speed internet, normal deposits, to all-inclusive rent. The USP of the company is to facilitate with tech-enabled property management.
About ah! Ventures
ah! Ventures is one of the world’s largest fundraising platform for early stage startups raising up to 10 MN USD. ah! Ventures has three platforms: First Gear, which helps startups raise upto INR 1 CR (~USD 150K), Angel Platform, which helps startups raise upto 1 MN USD and High Tables Platform, which helps startups raise 1-10 MN USD. Today ah! First Gear, Angel and High Tables platforms have over 70000+ entreprenurs, 2000+ seed/angel investors and over 1000 VCs & institutional investors registered with it. ah! First Gear, Angel and High Tables platforms till date have invested INR 242 CR (~32 MN USD) in 76 startups and 96 investments and have announced 11 exits and 18 follow on rounds till date. Contact: Abhijeet Kumar, abhijeet@ahventures.in
