Student accommodation platform, Amber has raised $21 million (₹175 Crores) led by Gaja Capital in its latest funding round.
The fresh capital will be used for global expansion and to enhance its offerings for property managers and students, the company said in a statement.
Commenting on fund raise Saurabh Goel, CEO of Amber said, “In other sectors we have seen technology-led disruption, but surprisingly the house-hunting process remains archaic. In the last few years, our team has leveraged technology and effective execution to scale well beyond PMF, and that too profitably. This round further strengthens our mission to provide an even better experience, expand to newer geographies and unlock growth levers for the next 10x”.
Student housing market
Gopal Jain, Managing Partner, Gaja Capital says, “Global increase in student enrolments underpinned by a long-term study abroad trend is fueling the organised student housing market. Saurabh and Madhur have built a truly global business out of India, and we are glad to partner with them as they work towards expansion into newer markets and deepening their offerings for students and property managers.”
Amber is an accommodation platform that provides a marketplace for students to book long-term housing. The company is headquartered in Pune, India and has a presence in UK, US, Australia, Ireland, Germany, Canada, Spain and China.