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Housing startup Placio raises $2 million from Singapore-based firm

Placio will leverage on the network and experience of the fund in redefining student hostel hospitality sector by increasing the existing capacity 20 times this year.

, ET Bureau|
Updated: Feb 07, 2018, 03.54 PM IST
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The startup’s digital platform curates modern living spaces, fully-furnished rooms, private rooms and personal apartments surrounding localities and university campuses.
Placio, a Noida-based student housing startup, on Wedneday announced that the company has raised pre-series ‘A’ funding from Prestellar Ventures, a Singapore-based private equity fund for $ 2 million.

The company will use the funds to provide superior student living experience in India and South-East Asia. Placio will also leverage on the network and experience of the fund in redefining student hostel hospitality sector by increasing the existing capacity 20 times this year.

“Placio has been able to address the needs of the rapidly expanding college student population of India- by providing safe, clean, amenity-filled housing with a strong community and technology backbone. The company has been able to grow its footprint so far with limited resources and we hope to provide the company with capital and our in-house platform for its next phase of exponential growth.” said Rabindra Shrestha, Managing Partner of Prestellar Ventures.

Placio, a student housing startup was founded in March 2016 by Rohit Pateria and Ankush Arora. The startup’s digital platform curates modern living spaces, fully-furnished rooms, private rooms and personal apartments surrounding localities and university campuses. The startup was incubated at The Amity Business Incubator.

“Student housing is a an interesting growth sector, as there is an immense undersupply of such purpose-built accommodation in India. I can confidently say, that this is where hospitality meets business keeping in mind our vision is to entirely redefine ‘student living’ by creating boundary-blurring spaces and colourful experiences to connect and thrive in smart design co-living. This, we believe will change the way the students live and study for academic success,” says Rohit Pateria, CEO, Placio.


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