Bengaluru based managed accommodation platform, Settl has raised $500K in Series Seed round funding led by Ah! Ventures.
The round also witnessed participation from We Founder Circles and other angel investors including Saurabh Jha (Director Growth & Analytics, Housing.com), Ashu Dubey (Principal Product Manager, Linkedin), Mahesh Pillai (Senior VP, Pierian Services Private Limited), and Abdul Paravengal (ex CBO, Shipper).
“The startup plans to deploy funds to enhance the technology stack and acquire more supplies,” the startup said.
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.
Speaking on the funding in Settl, Neeraj Tyagi, Co-founder & CEO, We Founder Circle said, “Their property options are designed keeping in the taste & living standard of urban young executives & so no doubt they are growing very fast. We are happy to support the founders & excited to look at the future growth potential.”
“Since covid and work from home are 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. A lot of changes are expected to happen. 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,” stated Karn Rajani, Venture Partner, ah! Ventures.
Commenting on the fundraise, Bharath Bhaskar, Co-Founder, Settl said, “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.”