India Digest: Student housing platform Amber bags $21m; Astrology platform Astrotalk raises $20m

India Digest: Student housing platform Amber bags $21m; Astrology platform Astrotalk raises $20m

Founders of Amber Saurabh Goel and Madhur Gujar. Image: Gaja Capital

India-focused mid-market private equity firm Gaja Capital has led a $21-million funding round in student housing platform Amber, while astrology platform Astrotalk has raised $20 million in a Series A funding round.

Gaja Capital anchors Amber’s funding round

Student housing platform Amber has raised a $21-million funding round led by Gaja Capital and participated by Lighthouse Canton and Stride. The Rainmaker Group acted as the exclusive financial advisor, according to a release.

The global accommodation player added that it would use the fresh capital for global expansion and to enhance its offerings for property managers and students.

“In the last few years, our team has leveraged technology and effective execution to scale well beyond PMF, and that too profitably. This round further strengthens our mission to provide an even better experience, expand to newer geographies and unlock growth levers for the next 10x,” said Saurabh Goel, CEO of Amber.

Founded in 2017, Amber simplifies the housing process for students globally by providing verified listings, integrated booking experience with virtual property tours and expert assistance across the UK, US, Australia, Ireland, Canada, Germany, and Spain.

Gaja Capital is a growth-stage, private equity firm investing in technology and technology-enabled companies in high-growth sectors such as education, software, financial services, and consumer.

The firm’s recent investments include digital banking infrastructure enabler, Signzy, sales execution software LeadSquared, and logistics company Xpressbees.

Astrotalk raises Series A round led by Left Lane Capital

Indian astrology platform Astrotalk has raised $20 million in a Series A funding round led by New York-based Left Lane Capital.

Astrotalk will utilise the funds for strategic acquisitions to expand in international markets, solidify new business verticals, and hire senior leadership roles, according to a release.

The company will also use the raised amount to further develop its devotion offerings as well as expand to and localise its operations in south India. Additionally, the company is planning an ESOP buyback.

“Astrotalk grew, in a bootstrapped fashion, to the undisputed local market leader for digital astrology practice in India, the birthplace of the practice; we are highly confident in their abilities to achieve similar success on a global playing field,” said Harley Miller, CEO of Left Lane Capital.

Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a global managed marketplace that connects consumers to astrologers for horoscope readings, birth chart analysis, live prayers, and more.

The platform currently has over 15,000 active astrologers and has served more than 4 crore users till date.

Edited by: Joymitra Rai

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