Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in a bridge funding round led by Alpha Wave, marking the first equity round for the Delhi-based startup in over three years. According to regulatory filings from the Registrar of Companies, the board approved a special resolution to issue 1,207 preference shares at Rs 911440.17 each.

Alpha Wave contributed Rs 83 crore, while Matrix Partners, Accel India, and Peak XV collectively invested Rs 27 crore. Data from TheKredible values Stanza Living at approximately Rs 3,900 crore ($470 million), a slight increase from Rs 3,525 crore ($424 million) in the previous round.

The company was previously reported to be seeking $25 million in funding. In March 2022, Stanza Living raised $57 million in debt led by Kotak Mahindra Bank and RBL Bank, and $100 million in equity in April 2021. To date, the startup has amassed over $230 million through equity and debt financing.

Stanza Living offers co-living solutions for professionals and students, boasting over 75,000 beds across 450+ residences in 24 cities. Its revenue rose to Rs 442 crore in FY23 from Rs 115 crore in FY22, although losses also increased by 18.71% to Rs 495 crore. The company has yet to file 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 at a 90% devaluation to $11 million.