Oxfordcaps raises $8 Million in Series A funding round led by Times Internet.
The company has multiplied its business 30 times and has now 6,000 beds from 200 beds.
The student housing sector is recently generating $15 billion revenue annually.
Oxfordcaps a student housing platform raises $8 Million in Series A funding round. The funding round of Singapore headquartered firm is led by Times Internet with the active participation of existing investors Silicon Valley-based 500 Startups and Kalaari Capital.
Oxfordcaps is founded in April 2017 by INSEAD graduate Annu Talreja and IIM-Calcutta alumni Priyanka Gera. It offers affordable range housing to students in India and Singapore online. Its portfolio includes three ranges of a housing facility for students dorms starting at Rs. 8,000 per head, residences for Rs. 12,000 per head and premium residences for Rs. 15,000 per head.
According to founders, the company has achieved 30 times growth since its launch and has expanded from 200 beds to over 6,000 beds. CEO Annu Talreja plans to make the growth of the company 50 times and add 10,000 beds in its portfolio. The company is putting high efforts to explore its business in Noida, Dehradun, Indore, Delhi, Bengaluru, Pune, Jaipur and various education hub cities of India.
According to a survey done by property consultancy Knight Frank, In India, 72% of 18-23 aged youths have supported co-living spaces. Since past decades renting for students has always been an obstacle because house owners refuse to offer rent to bachelors. The student housing sector is enhancing aggressively and is currently generating $15 billion in revenue annually.
According to Vani Kola, managing director at Kalaari Capital, “Every year above 10.4 million students across India migrate to cities to pursue their academic dreams. However, student housing recently suffers a lack of price transparency, lack of tech enablement of processes, quality solutions, reliability,”
The student housing sector has several players including Stanza Living backed by Sequoia Capital and others but Oxford Caps in India is using its experience gained while operation in Singapore to transform the market of student housing in India.
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