Co-living platform Settl and agritech startup Torus raised early-stage funding, the companies said Tuesday.
Settl
Samasth Living Pvt Ltd, which operates the co-living space provider Settl has raised $1.2 million (Rs 10 crore) in a pre-Series A funding round from a host of investors including proptech investment firm Gruhas, Inflection Point Ventures, Anthill Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP and Ekyum. Existing investors We Founder Circle and Ah! Ventures also participated.
The startup will use the funds for working capital, team expansion, and to develop its technology stack.
Founded in 2020 by Abhishek Tripathi, Bharath Bhaskar, and Ashok Reddy, Settl offers co-living spaces, paying guest (PG) accommodations and apartments for rent.
The firm has a presence in Bengaluru, Hyderabad, Gurugram and Chennai and claims to operate around 60 co-living centres across these four cities with a total capacity of 4,000 beds.
In 2021, the startup had raised $500,000 in a seed round from We Founder Circle and ah! Ventures, along with a host of angel investors.
Torus
Torus Innotech Pvt Ltd has raised $1.3 million (Rs 11 crore) in a mix of debt and equity funding from undisclosed high-net-worth individuals (HNI).
The startup has raised Rs 10.5 crore in debt while securing Rs 50 lakh in equity investment in the funding exercise.
The startup, in a statement, said that it raised the funding at a valuation of Rs 200 crore.
Torus is an agritech startup that currently operates in the states of Maharashtra and Telangana. It works in the areas of organic farming, regenerative agriculture certification, carbon credits programme, raw material trading along with operating a retail outlet in Thane.
