StayAbode raises fresh funds in round led by Voyage Group, Akatsuki and others

StayAbode, a startup that is into building co-living spaces, Monday said that Voyage Group, Akatsuki and Incubate Fund have invested in an add-on to its 'pre-Series A' funding round. The company, however, did not divulge the quantum of funding received.

"StayAbode, a start-up that is building co-living spaces, has received an add-on to pre Series A funding for an undisclosed amount from Voyage Group, Akatsuki and Incubate Fund," the firm said in a statement. StayAbode currently has 1,200 beds available across over 19 properties in Bengaluru with a further 1,000 beds contracted to go live in the next six months and is operating at 97 per cent occupancy. It has plans to expand to other cities in due course.

The co-living spaces startup recently tied up with CP Developers and is working on a co-living project in India, entailing 1,400 people living in a community environment, in the heart of Bengaluru’s Whitefield. "With this top-up on our pre-series A fundraise, we’re going to grow our operating base and make key hires for the next phase of growth of the company," Viral Chhajer, Co-founder and CEO, StayAbode said.

(With inputs from agencies.)