Co-living & student housing start-up RoomSoom raises funds to expand its reach
Co-living and student housing start-up RoomSoom Technologies has raised an undisclosed sum in the funding round from Mumbai Angels Network.
The startup is aiming to increase the number of beds from 3000 to 5000 and strengthen its reach from seven to 10 cities. Headquartered in Noida, RoomSoom was founded by Nitin Agrawal and Garima Agrawal in 2016.
Nitin Agrawal, Co-Founder at RoomSoom, said, “With these funds, we plan to tap every market, reach every individual, and identify every need. So that we can provide them with a solution they will not find anywhere else.”
Nandini Mansinghka, Co-Promoter and CEO, Mumbai Angels Network, stated, “RoomSoom specializes in designing co-living accommodations for the youth and makes house hunting easy for bachelors and families.”
Anshuman Ranjan, a Mumbai Angels Investor, added, “From an investor’s perspective RoomSoom had the right ingredients; a scalable and profitable business model, experienced and innovative management, and resilient business that can recover quickly from the pandemic impact.”