41 OUT OF 116 COMPANIES SHUT SHOP THIS YEAR
CO-LIVING STARTUPS ARE struggling to survive with 41 of the total 116 firms shutting shop in 2023.
According to Tracxn data, VC funding has shrunk by around 85% year-on-year for two consecutive years now.
In 2023, the sector managed to raise only about $6 million, down from $21.7 million in 2022. In 2021, the sector had attracted funding of $148 million.
A few that have managed to raise money have been small early rounds. For instance, Mumbai-based GetSetHome, an online platform that manages and provides accommodations on rent, raised $1 million last week.
Stanza Living, which is the sector's highest-funded and most-valued company, is also facing tough times.
The co-living firm,which counts Peak XV Partners, Matrix Partners, Accel, Alpha Wave, Falcon Edge Capital and Alteria Capital among its investors, has raised $178 million in equity funding so far. It was valued in the range of $470-500 million following its Series D round in April 2021.
Bu hikaye Financial Express Mumbai dergisinin December 28, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin December 28, 2023 sayısından alınmıştır.
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