Student accommodation platform Amber raises $21 million led by Gaja Capital
Student accommodation platform Amber has raised $21 million in its first round of institutional funding, led by Mumbai-based private equity firm Gaja Capital.
The round comprises $18.5 million in fresh equity and the remaining in venture debt from Lighthouse Canton and Stride Ventures.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitThe funds will be used for global expansion and to enhance its offerings for property managers and students. The company plans to grow its operations by enlisting more suppliers and property managers, while also focusing on scaling the demand from both international and domestic students. It will invest in innovation on the product development front.
“We are looking at scaling aggressively in the markets that we are currently already into. The UK, Australia and Ireland is the market that we started with, and we are the largest operator and platform in these markets, but at the same time, a lot of fund allocation would go into expanding into new markets like the US, Canada, and Europe as well,” cofounder and chief executive Saurabh Goel told ET.
Founded in 2017 by Goel and Madhur Gujar, the Pune-headquartered company primarily focuses on Indians studying in the US, the UK, Ireland, Australia and Canada, as the student accommodation market in these countries is worth
