Your-Space.in, an India-based student housing startup, has secured US$500,000 in angel funding from a group of unnamed High Net-worth Individuals (HNIs).
According to a statement, the investors included people from leading financial institutions, real estate and hospitality sectors in India and abroad.
The money will be used to expand its services beyond Delhi-NCR.
Your-space was founded by Shubha Lal, Karan Kaushish and Nidhi Kumra — all former bankers in London.Your-Space follows an asset-light model by leasing properties. The hostel has a gym, a lounge, indoors games, a cafe, doctor on call, yoga, beauty services, reading room, and tuck shop. Additionally, the facility has a vending machine, movie nights, high speed free wi-fi, music and dance classes, a business centre with printer facility, electronic security, and career counselling.
The company aims to more than double its capacity and expand in other educational hubs in the NCR region like Delhi University’s north and south campuses and Noida.
Your-Space also plans to launch an exclusive female students hostel in the coming months.
The startup was incubated by TurningIdeas Ventures. According to Ashish Mittal, Founder of TurningIdeas, over 80 per cent of students securing a college admission are looking for accommodation outside campus hostels.