PRESS RELEASE: New Delhi – Oxfordcaps, Asia’s first branded and tech-enabled student housing company announced today that it has raised $8m in Series A funding led by Times Internet with participation from existing investors Kalaari Capital and Silicon Valley-based – 500 Startups. Oxfordcaps provides a hassle-free and technology-driven living experience to Gen Z students in India and Singapore. The new capital will be used for fueling its growth with expansion into 10+ cities and standardization of its Student Housing product with design thinking and technology at the core of the experience.
Co-founded by INSEAD graduate Annu Talreja, CEO and IIM-Calcutta alumni Priyanka Gera, COO – the Company has clocked a 30X growth in <10 months since its launch in India and has expanded from 200 beds to acquisition of over 6,000 beds. Oxfordcaps aims to grow its operations across education hubs in India including Delhi, Noida, Greater Noida, Dehradun, Indore, Jaipur, Pune, Bengaluru, and Ahmedabad.
Oxfordcaps provides a custom designed and standardized Student Housing product with a full-stack model of services and amenities. The projects and services are standardized within the Oxfordcaps brand services guidelines, providing a transparent, hassle-free and safe alternative to a market dominated largely by the unorganized PG (Paying Guest) segment till date.
With Gen Z’ers at the core of its business, the company is also investing heavily on technology, particularly focusing on IoT and Deep Learning architectures to provide a customized and engaging living experience for students.
Vani Kola, Managing Director at Kalaari Capital, said, “More than 10.4M students across India migrate to cities every year to pursue their academic dreams. However, student housing today suffers from a high level of fragmentation, lack of quality solutions, price transparency, reliability and complete lack of tech enablement of processes. OxfordCaps is addressing this gap. We are pleased to back Annu and Priyanka and confident in their strategy and execution to establish student housing as an asset class in India.”
Mr. Abhishek Gupta, VP – Times Internet Ltd. said, “Annu and Priyanka have built a great team in a short time, their execution has been impressive. We were very impressed by their understanding of the sector, building the right experience and traction. Education and Student Lifecycle are the key segments for us as an investor. We are very excited to partner with them on their journey to provide unparalleled student housing experience. We believe that there is a tremendous demand in this segment, coupled with founders’ relentless hustle, it has the potential to transform the industry.”
The Company operates via three sub-brands and caters to students across price segments including Oxfordcaps Premium Residences, Oxfordcaps Student Residences and Oxfordcaps Dorms for the budget segment. It offers fully-fitted out and custom designed residences with full-stack service model including wifi, laundry, nutritious meals, professional housekeeping and an array of events and activities focused on career development and lifestyle for its students. Oxfordcaps works directly with universities and colleges as well to build a tailored experience for the student community, both via on-campus and off-campus housing.
Oxfordcaps is an international standard students’ residences provider, creating a technology-enabled and community-driven living experience designed for the Gen Z Students in India and Singapore. The student residences have been designed to provide a great living environment which is hassle free, including all kinds of basic and premium amenities: well-furnished rooms, reading areas, Wi-Fi services, professional housekeeping, security provisions, transport facilities, and nutritious meals. Oxfordcaps properties in India at present are in Delhi/NCR and Dehradun.
About Times Internet
Times Internet (TIL) is a digital products company and a digital venture of The Times of India Group. Times Internet has also entered into partnerships with global companies offering them its tremendous reach through online media platforms. The alliances range from licensing partnerships to investments and acquisition. In the last year, the company has made 9 acquisitions, sixteen global partnerships, four minority investments, and over 20 investments into start-ups through TLabs in the Indian ecosystem. Some of the key investments made by Times Internet includes popular start-ups like Uber, Delhivery, Shuttl, Pratilipi, ByJu’s and many more.
About Kalaari Capital
Kalaari Capital is an early-stage, technology-focused venture capital firm with $650 million in assets under management. Since 2006, the company has empowered visionary entrepreneurs building unique solutions that reshape the way Indians live, work, consume and transact. Some of the company’s key investments include – Magzter, PopXO, BlueStone, Yourstory, Urban Ladder and many more.
About 500 Startups
500’s mission is to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. The company believes that great founders come in all shades, genders, and nationalities. Since inception, 500 Startups has made it their mission to find and empower talented founders, whether they’re across the world or overlooked in their own backyard.