SINGAPORE-headquartered student housing firm Oxfordcaps has raised S$11 million in Series A funding led by Times Internet, the digital arm of Indian media giant The Times Group, with support from existing investors Kalaari Capital and 500 Startups.
The new capital will be used for fuelling growth with expansion into 10 India cities and the standardisation of its student housing product. It aims to grow its operations across education hubs in India including Delhi, Noida, Greater Noida, Dehradun, Indore, Jaipur, Pune, Bengaluru and Ahmedabad.
The company said it will also invest heavily in technology, particularly focusing on the Internet of things and deep learning architectures to provide a customised and engaging living experience for "Gen Z" students.
Co-founded by Insead graduate Annu Talreja, who is chief executive officer, and IIM-Calcutta alumna Priyanka Gera, its chief operating officer, the company provides a "hassle-free and technology-driven living experience to Gen Z students" in India and Singapore.
The company said it has grown from 200 beds to more than 6,000 beds.
It operates via three sub-brands called Oxfordcaps Premium Residences, Oxfordcaps Student Residences and Oxfordcaps Dorms, catering to students across different price segments. The company currently works directly with universities and colleges both via on-campus and off-campus housing.