Oxfordcaps, Asia’s first branded and tech-enabled student housing company announced 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.