We show you our most important and recent visitors news details Alpha Wave invests $100 million in India-based Stanza Living in the following article
Hind Al Soulia - Riyadh - Source: BW Disrupt
Alpha Wave Incubation (AWI), a VC fund managed by Falcon Edge, has been investing at a steady pace. It has now invested well over $100 million in Stanza Living through its two subsidiaries.
The Delhi-based company has approved the issue of 8,430 Series D CCPS and10 equity shares, at an issue price of INR 9,11,440 per share to INR 769 crore/ $102 million. Stanza Living was valued at $300 million as of 2019 during its previous financing round led by Falcon Edge and was in talks to raise around $120 million in its Series D round.
Falcon Edge has invested $100 million/ INR 739.3 crore in the new round while the rest has come from Stanza Living’s other existing backers Sequoia Capital and Matrix Partners.
Stanza Living’s founders Sandeep Dalmia and Anindya Dutta now hold a minority stake of 26.2% combined. Falcon Edge has now emerged as the largest stakeholder holding a 27.8% stake after the last round of investment.
Stanza Living provides affordable accommodation facilities to students and migrating people which includes housekeeping, food, security, and other day-to-day amenities. Currently, the company has a presence in 15 cities including Delhi, Hyderabad, Bengaluru, Pune, Indore, and Ahmedabad.
The fresh funding in Stanza Living has come at a time when the hospitality and accommodation sector is facing major challenges due to the spread of Covid 19. The sector is set to experience even more disruption with the second pandemic.
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