Indian student housing startup Stanza Living, run by DTwelve Spaces Pvt. Ltd, has received commitments worth $50 million in its ongoing growth equity round led by New York-based Falcon Edge Capital, according to two people close the development who asked not to be named.
The round also saw participation of the company's existing investors including Sequoia Capital, Matrix Partners, and Accel Partners. This is the first tranche of a larger ongoing equity financing round that the company is raising, said the second person aware of the deal.
Stanza Living is also in talks with multiple equity investors to raise additional capital for the current round, added the person quoted above. The three-year old startup was valued at $300 million in the current round, said the first person aware of the deal.
“The $50 million tranche is expected to close by the end of July 2019. The company will be using the fresh capital for organic and inorganic growth measures including potential acquisitions to strengthen its capabilities," said the second person, requesting anonymity.
Mint had first reported the talks in March. Stanza Living has collectively raised $16.7 million till date across both equity and debt routes, excluding the current round.
“We have received interest from several marquee global investors. However, as a company policy, we do not comment on general market speculation," said a company spokesperson.
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