Co-living operator Settl has effectively secured Rs 10 crore in its pre-Series A funding round from investors like Gruhas and We Founder Circle. This funding round also sees participation from Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum. Their involvement signifies strong support and confidence in the startup's expansion strategies.

Following this funding round, Settl has now raised approximately Rs 14.9 crore, augmenting its valuation to nearly Rs 30 crore based on Fintrackr's analysis subsequent to its previous fundraising effort in September 2021. Settl has revealed that the newly acquired funds will be allocated towards critical areas such as working capital, team expansion, and enhancing technological infrastructure.

Established in 2020 by Abhishek Tripathi, Settl functions as a platform enabling users to explore and rent shared living spaces, individual rooms, or fully-furnished apartments furnished with modern amenities. Operational in Bengaluru, Hyderabad, Gurugram, and Chennai, Settl maintains a network of over 60 co-living centers, collectively providing accommodation for 4,000 beds primarily targeted at working professionals. The company offers rental options ranging from Rs 12,500 to Rs 18,000 per bed, catering to diverse budget preferences.