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Eldercare startup Primus Senior Living raises $20 million from General Catalyst, others

Economic TimesEconomic Times · 11m ago
Eldercare startup Primus Senior Living raises $20 million from General Catalyst, others
Medial

Indian eldercare startup Primus Senior Living has raised a total of $20m in a seed funding round led by General Catalyst. The Bengaluru-based company is developing a comprehensive eldercare platform that offers services such as healthcare, wellness, lifestyle, and social engagement, delivered to elders in their homes. The funding will be used to expand the company's operations, develop intergenerational housing, and create an eldercare community. This investment is one of the first in India by General Catalyst, which recently acquired India-focused early-stage investor Venture Highway. Other investors in this round include Zerodha co-founder Nikhil Kamath and Gruhas.

Former PayU’s exec startup Zinc raises $25.5 Mn in seed funding

EntrackrEntrackr · 10m ago
Former PayU’s exec startup Zinc raises $25.5 Mn in seed funding
Medial

Zinc, an edu-wealth startup founded by former PayU Finance India CEO Prashanth Ranganathan, has raised $25.5 million in its seed round, led by Nexus Venture Partners with participation from Quona Capital, EDBI, Global Ventures, and Credit Saison. According to the company, the funds will be used to drive product innovation and expand offerings, focusing on global investment tools, AI-powered university counseling, and cross-border payment solutions to help families secure their children’s futures. Zinc aims to address the rising costs of overseas education by building a financial foundation tailored specifically for this purpose. Its proprietary AI-powered edu-counselor platform, Ada, provides comprehensive support and guidance to young Indian aspirants. The company offers global investment tools that enable parents to expand their savings into international markets, helping them build financial plans for their children’s education while mitigating currency fluctuation risks. Zinc has also secured RIA (Registered Investment Advisor) license approval from SEBI and in-principle approval for the PSP (Payment Service Provider) license. The company has applied for a brokerage license from the International Financial Services Centres Authority (IFSCA) in GIFT City. Ranganathan, previously the founder of Paysense, which was acquired by PayU in 2020, joins the ranks of several second or third time startup founders who raised more than $20 million in their seed rounds in 2024. According to startup data intelligence platform TheKredible, notable recent seed rounds include blockchain startup Avail ($27 million), Lyskraft, Mukesh Bansal’s new venture ($26 million), and generative AI startups EMA and Nesya, which raised $25 million and $20 million, respectively. Wealthtech startup Centricity and elder care startup Primus Senior Living also raised $20 million each, marking strong seed-stage funding activity.

Colive raises $20 Mn led by Bain Capital

EntrackrEntrackr · 9d ago
Colive raises $20 Mn led by Bain Capital
Medial

Colive raises $20 Mn led by Bain Capital Co-living startup Colive has raised $20 million in strategic funding led by Bain Capital, alongside long-term partner Sattva Group. The proceeds will be used to fuel Colive’s growth through upgraded technology infrastructure, expanded market presence, and reinforced position in tech-enabled rental housing across India. This funding is part of a larger joint initiative: Bain Capital and Sattva Group have launched a $100 million pan-India co-living real estate platform, with Colive as its cornerstone manager. The platform will focus on acquiring land, developing flagship co-living communities, and delivering purpose-built rental homes in major urban centers. The initiative aims to scale the co-living footprint from the current count to 50,000 beds over the next three years. Each property under this master plan will average around 300,000 square feet, primarily targeting executive rentals. As part of the agreement, the platform will be jointly owned by Bengaluru-based Sattva Group, an equal joint venture partner in Colive, and Bain Capital, with the private equity firm holding the majority stake. To date, the PropCo-backed platform has secured land in Pune and Bengaluru, with nearly 0.5 million sq ft under development. Further expansion plans are underway in Bengaluru, Pune, and Hyderabad, aiming to deliver 8–10 flagship projects in the near term.

Stanza Living raises $13 Mn led by Alpha Wave

EntrackrEntrackr · 1y ago
Stanza Living raises $13 Mn led by Alpha Wave
Medial

Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in what appears to be a bridge round led by Alpha Wave. The equity round is coming after a gap of more than three years for the Delhi-based startup. The board at Stanza Living has passed a special resolution to issue 1,207 preference shares at a price of Rs 911440.17 each to raise Rs 110 crore, its regulatory filing accessed from the Registrar of Companies shows. Alpha Wave has pumped in Rs 83 Crore while Matrix Partners, Accel India and Peak XV invested Rs 27 crore cumulatively. As per startup data intelligence platform TheKredible, Stanza Living was valued at around Rs 3,900 crore ($470 million). This is a marginal jump in valuation from Rs 3,525 crore ($424 million) in the last equity round. The firm was reportedly in talks to raise funding to the tune of $25 million. Stanza Living had raised $57 million in a debt round led by Kotak Mahindra Bank and RBL Bank in March 2022 and $100 million in an equity round in April 2021. So far, it has scooped up over $230 million across equity and debt rounds. Stanza Living is a managed accommodation platform which provides co-living solutions for working professionals and students. The firm claims to have an inventory of more than 75,000 beds in 450 plus residences with a presence across 24 cities. Stanza Living’s revenue from operations surged to Rs 442 crore in FY23 from Rs 115 crore in FY22. As per TheKredible, its losses increased by 18.71% to Rs 495 crore in FY23 as compared to Rs 417 crore in FY22. The firm is yet to file its audited financial statements for FY24. Stanza Living competes with Colive, Your Space, Settl, Union Living and Coho. Last year, Tiger Global-backed home rental startup NestAway was acquired by Aurum PropTech (formerly Majesco Ltd) in a 90% haircut in valuation to $11 million.

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