The relatively young co-living industry in India is attracting sizeable investments from institutional investors and venture capital firms. Ikigai Law advised Stanza Living, that is focussed on student-accommodation, in its Series C fundraise from Falcoln Edge and repeat investors Sequoia, Matrix Partners and Accel. New York based Falcoln Edge was represented by Goodwin Proctor and Matrix Partners by Rajaram Legal. The Ikigai team consisted of Senior Associates Ishita Shome and Tanya Sadana, Associates Darpan Singhi and Srishti Ghoshal, and Managing Partner Anirudh Rastogi.
A report by the real estate advisory firm Knight Frank said that the demand for (purpose built) student accommodation in India exceeds eight million beds, and is likely to grow by sixty percent to 13 million beds by 2025. Another report by RedSeer says that the industry is not a winner-takes-all and has leg space for many players to grow and operate at scale.
Institutional investors and venture capital firms, with the likes of Goldman Sachs, Warburg Pincus and HDFC Bank have investing in the sector. Real estate developers are also finding the space attractive for obvious reasons.
The co-working space is also heated up at this point and is attracting big-ticket investments. Ikigai Law recently advised on the acquisition by co-working operator CoWrks of The UnCube.