Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

3

Portfolio Exits

1

About Mridul Upreti

Mridul Upreti Headquarter Location

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Mridul Upreti News

Co-living Spaces Startup StayAbode Raises Pre-Series A Funding

Jul 16, 2018

StayAbode, a start-up that is building co-living spaces, has closed a pre-Series A round of funding for an undisclosed amount from Anupam Mittal (CEO, People Group) and Vineet Sekhsaria (Head, Real Estate investing, Morgan Stanley) and Japanese gaming company Akatsuki Inc. The investment comes after a strategic round led by Incubate Fund and a group of investors from the real estate industry including Legacy Global Projects MD Sanjay Shenoy and Mridul Upreti (ex Joint MD JLL India) last year. The funds are being used to scale the business and create more supply as demand increases. StayAbode currently has 950 beds live and is operating at 97% occupancy at 15 properties across Bengaluru and has plans to expand to other cities in due course. 12 more buildings are due to be launched in Bangalore as the company goes deeper into micro markets. The company continues to be operationally profitable. Last August, the startup had raised an undisclosed amount from Incubate Fund and a group of investors from the real estate industry including Legacy Global Projects MD Sanjay Shenoy and Mridul Upreti (ex Joint MD JLL India). Prior to that, it raised angel funding , again for an undisclosed amount, from a consortium of investors led by Ishan Manaktala and Angie Mahtaney. Gaurav Bhalotia (Ex-VP Engineering, Flipkart), Vishal Lulla (CEO, VIshal Exports) and a group of Investors, in February last year. Co-living is gradually becoming the preferred way of living for several reasons – saves money, is more fulfilling than living alone, people want to make/have friends to share common interests with and it’s easier to move in when shifting to a new city. Viral Chhajer, Co-founder & CEO, StayAbode, says, “We’re excited to partner with investors that believe that co-living is the future of residential real-estate for millennials and see this as an opportunity to create a new asset class in real estate investing. Each of our investors brings on-board a unique perspective to our vision of redefining the way millennials live in our cities. Capital raised now will be primarily used to make key hires across verticals and set the base for our expansion into our cities across the country”. Tomoya Ogawa, CFO at Akatsuki, Inc. and Managing Director of AET Fund, says, “We’re thrilled to partner with Viral and his team to support the growth of StayAbode. Co-living space is not just financially attractive, but will also enable millennials to have a more fulfilling and delightful living experience through bonding and social activities. We look forward to boosting this delight to the next level by offering our expertise in the entertainment-related field”. Angel investor Anupam Mittal, adds, “Given land prices in the country, co-living is perhaps the only solution to India’s affordable housing woes. Co-living allows millennials to buy into a meaningful lifestyle without the hassle that comes with renting and without compromising on location and affordability in case of buying. The space is set to explode much like co-working has and so I am excited to back StayAbode with its excellent execution track record”. StayAbode is leveraging technology, design, service and brand to build co-living spaces for the rental residential real estate market at scale. StayAbode’s co-living spaces mixes small private spaces – a bedroom and bathroom, with communal areas – common rooms, games areas, common kitchens and living rooms, music and art corners etc. At these co-living spaces one doesn’t need to be bothered about managing a household. The experience is that of a boutique hotel where – utility bills are paid, housekeeping is done, linen workfwashed and where one cooks only when one feels like. At these co-living spaces one can connect with like-minded people. In June last year, the company filed for a provisional patent for its Workforce Management System that uses internal positioning systems which will allow them to efficiently manage their service teams including security and housekeeping. StayAbode was co-founded in October 2016 by Viral Chhajer, Varun Bhalla and Devashish Dalmiya who have strong backgrounds in marketing, technology and finance having founded start-ups and previously worked at start-ups like Runnr, Treebo Hotels and Roadhouse Hostels. Akatsuki is a world-leading mobile game developer and publisher based in Tokyo, Japan, and AET Fund is its corporate VC arm. The fund aims to contribute to the lifestyle change in India by leveraging Akatsuki’s expertise in entertainment. This is AET fund’s first investment in India and with this they’re now looking to make more investments in India. [Top Image – www.facebook.com/stayabodecoliving/] Every Venture Is Not About Capital ! Independent digital media & Free Press is supported solely by contribution from individuals like you. Unlike other digital media entities in India, IndianWeb2.com do not take a cent from business, investors or political parties, so your contribution makes a big difference and helps us stay independent without any equity to investors -- Contribute

Mridul Upreti Investments

3 Investments

Mridul Upreti has made 3 investments. Their latest investment was in StayAbode as part of their Seed VC on August 8, 2017.

CBI Logo

Mridul Upreti Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/10/2017

Seed VC

StayAbode

Yes

5

4/13/2017

Seed - III

Subscribe to see more

Subscribe to see more

10

3/28/2017

Angel

Subscribe to see more

$99M

Subscribe to see more

10

Date

8/10/2017

4/13/2017

3/28/2017

Round

Seed VC

Seed - III

Angel

Company

StayAbode

Subscribe to see more

Subscribe to see more

Amount

$99M

New?

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

5

10

10

Mridul Upreti Portfolio Exits

1 Portfolio Exit

Mridul Upreti has 1 portfolio exit. Their latest portfolio exit was StayAbode on March 02, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/2/2020

Acquired

2

Date

3/2/2020

Exit

Acquired

Companies

Valuation

Acquirer

Sources

2

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.